http://MikesDailyMarketReport.com: The Weekly Initial Jobless Claims had a revision higher from last week's report, going from 779k to 812k. This week's report came in higher than forecasts, but lower than last week's revision, at 793k. Stocks are in Negative Territory this morning, as Investors review Corporate Earnings; Jobs data; and yesterday's inflation data. The inflation data helped stocks yesterday, as it provided data that inflation is not an immediate threat. They're mostly hedging against the $1.9 Trillion Stimulus Package, as it is appearing to remain intact to passage. MBS lost it's positive momentum yesterday, as it closed -2bps; and today, it's currently Down 2bps. Depending when Lenders came out with their Ratesheets yesterday, could determine if they priced worse in today's Ratesheets. So, Mortgage Rates will be between Unchanged and slightly worse than yesterday's Rates. Yields have subsided a bit, and sitting just under 1.15%.
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