Mortgage bonds prices opened near unchanged to slightly negative this morning failing to erase the losses from yesterday afternoon. Preliminary Q1 Productivity rose 3.6%, considerably higher than the expected 2.5% increase. Weekly jobless claims came in at 444k, slightly more than the expected 440k mark but still relatively as expected. Oil prices are currently staying near $80/barrel as concerns about the world economy continue. Rising energy prices generally do not bode well for us. However, falling energy prices provide a nice reprieve to overall inflation concerns. We have the employment report Friday morning.
Carlos Figueira - Keypoint Mortgage 