Daily Market Update 5/7/15

Rates moved higher Thursday reflecting yesterday’s slump in mortgage-backed securities prices.  30-year fixed rates have now risen by 0.25% in the past 10 days as investors have reassessed their expectations for future increases by the Fed.  In economic news, weekly Jobless Claims rose to 265,000, far below expectations.  Stocks were mixed.  No other key data will be released today.  The closely-watched Employment Report for April will be released tomorrow at 8:30 AM.

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