http://MikesDailyMarketReport.com: Today is the Big Jobs Day! Nonfarm Payrolls came in higher than expectation (177k) and much higher than February's number, which was revised higher (to 33k). It came in at 196k. The Unemployment Rate remained at 3.8%. However, Average Hourly Earnings only rose 0.1% in March. It's YoY is still just over 3%, which Investors are happy because it's a happy medium between a strong economy and wage based inflation. Stocks are in Positive Territory this morning, as a result of the Jobs data and continued optimism on an Trade Agreement between US and China. MBS are Up 11bps, which coupled with yesterday's positive day, will lead to a little better pricing today, so Mortgage Rates are a little better today. Yields have tempered a little, and have come down to 2.50%.
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