Mortgage rates are better today.
The weekly jobless claims report showed that the number of people filing for unemployment benefits dipped by more than expected last week. The markets didn’t react to the release as focus remains on monetary policy.
Tomorrow brings the Bureau of Labor Statistics monthly jobs report. The markets are expecting the private sector to have generated 70,000-85,000 new jobs last month.
The momentum in the market is favorable. Investors seem to be focused primarily on further quantitative easing so I will recommend a floating stance.
Current outlook: floating