All Eyes on Friday’s Employment Report; March 5, 2007
5 March 2007
The bond market opened strong today in line with stock market weakness but gave back gains after the stocks recovered.
The bond market is currently unchanged and rates should stay inline with Friday.
All eyes are on Friday’s Employment report, which is arguably the most important report for mortgage rates each month. Unexpected results can cause great volatility in bond markets and mortgage rates. Unless we see outside factors, such as volatility in the stock markets, the week will be quiet until Friday. If anything, rates may trend higher as traders get skeptical about Friday’s results.
Pending this critical report, recommendation is to Lock for the immediate short term.
Sphere: Related Content
No comments yet