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March 4th, 2014

March 4, 2014; 9:26am

Good morning!

Interest rate trends: Today – Higher; 10 days – Flat; 25 days – Flat

Interest rate recommendation:  Cautious float

Mortgage bonds (MBS’s) are worsening slightly this morning, mostly due to Russia indicating that an invasion is not yet necessary, and the stock markets rallying on the news.  Corelogic reported today that home prices rose 12% January 2013 to January 2014.  There are no economic reports being released today so the bond markets will be mostly subject to the stock markets.  Analysts continue their very cautious float recommendation and locking prior to Friday’s Government Jobs Report.  We feel the expected 163k jobs expectation is high after a 75k December and 113k in January, so if it does hit 163k+ on Friday, we will see rates go higher.  If on the other hand we see another poor report, 125k or lower, we will see an improvement to interest rates.  Tomorrow’s ADP report might give us some guess into Friday’s number.  Hold on and have a great day!

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