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Mortgage Market Update - 07/02 - Labor Department makes it Official
Posted 07-02-2009 at 12:09 PM by dlenski
Labor Department makes it Official
Mortgage Backed Securities are up this morning with no real effect on rates. The Labor Dept. released its unemployment number this morning. 467,000 people became unemployed. That is 100,000 over estimates. This has caused money to flow out of equities and into safe havens.
The Treasury has released it is auction schedule for next week. They will be auctioning 65 billion in new debt. This is down from last weeks 104 billion. With the amount of new debt being offered it should be well recieved.
Low volumes this week have done nothing to help rates. Hopefully after the holiday we see higher volume and better rates.
We would love to hear from you. We have been writing commentary for a year and would like to know your comments. http://mortgageserviceswi.com/contact.php
Have a save and relaxing 4th of July.
www.mortgageserviceswi.com
Mortgage Backed Securities are up this morning with no real effect on rates. The Labor Dept. released its unemployment number this morning. 467,000 people became unemployed. That is 100,000 over estimates. This has caused money to flow out of equities and into safe havens.
The Treasury has released it is auction schedule for next week. They will be auctioning 65 billion in new debt. This is down from last weeks 104 billion. With the amount of new debt being offered it should be well recieved.
Low volumes this week have done nothing to help rates. Hopefully after the holiday we see higher volume and better rates.
We would love to hear from you. We have been writing commentary for a year and would like to know your comments. http://mortgageserviceswi.com/contact.php
Have a save and relaxing 4th of July.
www.mortgageserviceswi.com
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