On Friday, markets were surprised by the strong Jobs Report, adding 204,000 jobs vs the 100,000 expected. This caused mortgage rates to tick higher (although they are still at historically very low levels) catching borrowers who had not locked prior to Friday a bit of a surprise as well. Bond markets are closed today in observance of Veterans Day.
This week’s calendar of scheduled economic indicators appears to be on the light side:
- Thursday, November 14: Productivity and Initial Jobless Claims
- Friday, November 15: Empire State Index
You can get more nitty gritty details, including a chart that illustrates recent MBS (mortgage backed securities) movement on this week’s issue of Mortgage Market Guide.
On Veterans Day, and every day, my deepest gratitude goes to those who serve, who have served our military and to their families.
“This nation will remain the land of the free only so long as it is the home of the brave.” -Elmer Davis
Happy Veterans Day