Rate Update April 4th
The Jobs Report is in and does not look good. This morning the Labor Department reported a loss of 80,000 jobs in March- the biggest monthly job loss in 5 years. The good news is that this has helped Mortgage Backed Bonds trade about 34 basis points higher on the day. This has pushed rates down a touch and there could be a bit more room for them to fall in the near future.
Current Outlook: floating