Bears Rule

Good news=higher interest rates.  Bad news=higher interest rates.  Irrespective of the data this week, the bond bears are ruling the trading floors, sending conventional mortgage rates up 0.25% over the last 10 days.

This Friday’s Jobs Report is expected to reveal that 218,000 new employment opportunities were created last month, reducing the Unemployment Rate to 5.4%.  Ahead of the official release, ADP Private Payrolls showed a figure of only 169,000 new jobs, and the fifth straight month of a constricting labor market.