you're reading...
mortgage news

Stocks are trading near unchanged levels and Mortgage Bonds are a bit higher

Stocks are trading near unchanged levels and Mortgage Bonds are a bit higher so far this morning.   It’s another quiet news day, but Initial Jobless Claims for the week ending 11/8 were reported at 290k.  This was a bit higher than expectations of 288k, and represented an increase of 12k from last week’s number, which was unrevised at 278k.  Claims did move a bit higher last week, but this is still a decent number.

Later today at 1pm ET there will be a 30-yr bond auction.  After yesterday’s weak 10-Yr note auction, we will watch this closely as this can always move the markets.

Mortgage Bonds are in a wide range between overhead resistance at 103.35 and support at the 50-day Moving Average.  We have to be careful because Bonds could whipsaw one way or another.  Stocks have started to move sideways after a parabolic move higher.  But the Stock market has been incredibly resilient.  We have to keep a close eye on the next move for Stocks as it will likely dictate the direction in Mortgage Bonds.


About PhilJawny

Award winning mortgage banker with over 14 years of experience.


No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow me on Twitter

%d bloggers like this: