Today's Interest Rate News
July 2, 2015; 10:18am
Interest rate trends: Today – Lower; 10 days – Flat; 25 days – Higher
Interest rate recommendation: Cautious float
Mortgage bonds (MBS’s) are doing well this morning on a worse than expected Jobs Report for June. Initial Jobless Claims also came in worse than expected. These misses were not big misses, but the MBS worsening yesterday was due to a better than expected ADP report, that showed a more positive jobs growth picture. We are now getting back what was lost yesterday. We will cautiously float at the moment and see what happens. Have a great day and awesome holiday weekend. In observance of Independence day, we will be closed tomorrow July 3rd.