Mortgage bonds prices opened positive this morning adding to the gains from yesterday and helping to push rates lower.
The ADP employment report showed a 32k job increase, slightly higher than expected.
Stock futures currently point to another negative day.
Oil prices are lower this morning as concerns about the world economy continue. In addition supply data is expected to show increased inventories. Oil is currently around $82/barrel. Rising energy prices generally do not bode well for us. However, falling energy prices provide a nice reprieve to overall inflation concerns.
Carlos Figueira - Keypoint Mortgage 