Rates Unchanged Ending Another Volatile Week
1 February 2008
Mixed economic news has left mortgage rates unchanged today.
The Department of Labor released the Employment Report for January, showing an unexpected increase in new jobs, as well as an unexpected increase in jobless claims.  The net result was a flat market reaction.
The ISM (Institute of Supply Management) also posted data that suggested that the manufacturing sector is in better shape than expected, which is negative for bonds.
Look forward to a possibly less volatile week next week, there are few significant economic reports due out.
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