Mortgage bond prices are lower mid morning Thursday applying upward pressure on mortgage rates. Rates are under pressure as mortgage companies and wholesale lenders sell bonds to cover borrowers who have locked their rate.
In news released at the market open, weekly jobless claims stood at 484K and continuing claims at 4,452K. Economists’ estimates were for a read of 465K and 4,600K. This data was mixed however it is more proof the jobs outlook in the US remains grim.
Carlos Figueira - Keypoint Mortgage 