Interest rates are unchanged this morning.
Mortgage Backed Bonds are trading up on the day, currently 11 basis points after a pretty mild day yesterday. In the equity market, more earnings reports are coming in today and so far they have been better than expected, resulting in the DJIA trading higher by around 30 points on the day.
The 4 week average Jobless claims are up slightly from 396.7K to 399k. These claims remain elevated showing little progress recently after showing some good signs in January and February. Although jobless claims aren’t rising at a frantic rate, the fact that they have been trending upwards may help keep interest rates lower in the near future.
Today is the last trading day of the week due to tomorrow’s holiday. Rate Update will be taking a break and will be back on Monday, when Evan can tell us all how sunny it was on his vacation.
Current Outlook: Floating