3 December 2009 ? Mortgage Bonds opened the day down and have continued to trend lower to a day change of -25bps. Today has been a significant news day as Chairman Ben Bernanke of the Federal Reserve testified in front of a Senate committee considering his re-nomination. In other notable news, the monthly Jobs Report will be released tomorrow. Jobless claims have been estimated at around 457,000, far short of the 480,000 expected, but tomorrow will confirm whether those numbers are valid or not. While the downward trend of jobless claims is encouraging, most economists agree that the labor market is still contracting. In addition, labor productivity numbers showed an 8.1% increase in the 3Q ? certainly a positive for the economy as employers continue to get as much out of their existing workforce as possible. The stock market has been relatively flat as the dollar continues to struggle and investors attempt to make predictions on holiday retail sales. Friday, as always, will be an important day for the mortgage and stock markets due to the weekend. Mortgage rates are still strong with 4.750% (4.799% apr) on the 30 year and 4.25% (4.334% apr) on the 15 year.Email This Post To a Friend.
Today’s Mortgage Rates: Bernanke Testifies to Senate, Jobless Figures Come Out Tomorrow
December 3, 2009
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