Mortgage Bonds are bouncing around this morning, but remain above an important floor of support at the 200-Day Moving Average. Also this morning, Stocks are trading lower after getting hammered the last several days.
In other news, the Initial Jobless Claims came in at 478,000 and the four-week average of continuing claims rose to its highest level in more than five years. With Goldman Sachs eliminating 3,200 jobs and other firms cutting back too, the upcoming Jobs Report may continue to look bleak.
“Your Partner In Success!”
Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
(209) 404-2200 - Phone
(209) 254-7142 - Fax