Daily Market Update 10/5/17

Mortgage rates were little changed ahead of tomorrow’s key Employment Report.  In today’s economic news, weekly Jobless Claims fell to 260,000, close to forecast.  September Factory Orders rose 1.2%, in line with expectations.  San Francisco Fed President John Williams said in a speech at a community banking conference that he expects economic growth and a tight labor market to push inflation higher, making further rate hikes appropriate.  His remarks were viewed as more hawkish than expected, pressuring mortgage-backed securities.  No other key data will be released today.  The Employment Report for September will be released Friday at 8:30 AM.

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