Skip to main content

Happy Friday,

The big headline today is that 204,000 new jobs were credited last month, more than double the 100,000 expected. Oddly enough, the Unemployment Rises to 7.3% from last month’s 7.2%. Stocks are marginally (DOW up 97), but the big news is the bond market. The 10 Year yield spiked instantaneously from 2.6% to 2.75% as prices opened down 90bps.

Mortgage interest rates are up .125% across the board, from 3.875% for 30 year FHA to 4.375% for Conventional. 15 year rates are still down at 3.375%.