Daily Market Update

Mortgage rates moved lower Friday reflecting gains in mortgage-backed securities (MBS) late Thursday. The Labor Department reported February job losses of 651,000, in line with expectations. The Unemployment Rate rose to 8.1% from 7.6% in January, the highest level since December 1983. Financial markets showed little reaction to the report, as many investors were prepared for even weaker data. Stocks and Treasuries moved slightly higher, MBS’s were little changed. Next week will be light in terms of key economic data, with the exception of Wednesday’s report on Retail Sales.

Leave a Reply

Your email address will not be published.

Back to top