Be ready to lock

March 6th, 2014

March 6, 2014; 10:01am

Good morning!

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

Interest rate recommendation:  Very cautious float

Mortgage bonds (MBS’s) are mostly flat today as economic news although not much, is slightly good for the economy and keeping interest rates from improving further.  All eyes are now on tomorrow’s Government Jobs Report where 163k jobs are expected to have been created during the month of February.  Analysts are recommending locking going into this report tomorrow, but we feel the report will be weak again and be in the 125k to 135k range.  For the conservative person, locking is safe, but for others, we are standing with a very cautious float.  We feel the stock market is also inflated and will likely get a correction tomorrow when the report comes out.  It takes 200k jobs to be created every month just to keep up with the number of workers that become eligible to work every month.  Be ready to lock should the report be any different than we are expecting.  Have a great day!


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