203353 Resource 178438 178984 178982 1210263132122 1210303190051 Controlled Bond Market Improves Today

Home Mortgage Interest Rates A Little Lower Today

Initial Jobless Claims were reported at 365,000, slightly below expectations of 375,000.  The more closely watched four-week average of Claims edged higher to 367,500.  This not-so-good read on the labor market helped Bonds improve from their worst levels of the day. As expected, The Bank of England and the European Central Bank (ECB) have left their benchmark interest rates unchanged today as they also cope with inflation pressures and a slowing European economy.  In the absence of market moving news this week, we have been seeing Mortgage Bonds respond to the action in the Stock market as well as technical factors.  Yesterday, the Dow closed below the psychological 13,000 level, and Mortgage Bonds responded by moving higher.  Should Stocks look to regain their footing after yesterday's losses, Mortgage Bonds may give back some of yesterday's gains.  From a technical standpoint, the Bond continues to ride sideways above a layer of support at the 50 and 100-day Moving Averages and at the moment, prices have popped above the 25-day MA.  For now, we will continue to float. 10 application/xml false home loan rates mortgage market Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 5.1; .NET CLR 1.1.4322; .NET CLR 2.0.50727; .NET CLR 3.0.04506.30; .NET CLR 3.0.04506.648) 127.0.0.1 127.0.0.1 aheitland 24.121.32.9 false true false false true 178975 false false true false false false true 178438 blog blogsite/BestFlagstaffHomes/web