Rates were little changed Thursday as mortgage-backed securities (MBS) recovered from yesterday’s late losses. MBS prices sank late Wednesday following the release of detailed Minutes from last month’s Fed meeting indicating a greater likelihood of a June rate hike than investors had previously expected. In today’s economic news, weekly Jobless Claims fell to 278,000, slightly above forecast. The Philly Fed regional manufacturing index declined to -1.8, well below expectations. Readings below zero indicate contraction in manufacturing in the Philadelphia region. Stocks moved lower as speculation grew that a terrorist attack may have been responsible for a missing Egyptair flight from Paris to Cairo. No other key data will be released today.