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    • Surprisingly Resilient Despite Stronger NFP December 8, 2023
      Surprisingly Resilient Despite Stronger NFP Nonfarm Payrolls (NFP)--the headline component of the big jobs report came in higher than expected today.  Adding to the challenges for the bond market, the unemployment rate ticked down to 3.7% from 3.9% previously (also the forecast for today). Given the stakes, we wouldn't have been surprised to see a […]
    • Mortgage Rates Surprisingly Resilient Despite Moving Slightly Higher After Jobs Report December 8, 2023
      Heading into this week (and even throughout the entirety of last week) we were mostly focused on seeing today's jobs report for the next big dose of influence on the mortgage rate landscape. Unsurprisingly, a strong report resulted in higher rates, but not as high as we might have imagined. In fact, many borrowers will […]
    • Jobs Report Good Enough to Rain on Bond Bull Parade December 8, 2023
      Bond bulls have been on parade since November 1st and especially since November 14th (CPI).  Since then, we haven't seen any real threats to the linear rally trend.  It's a testament to that bullishness that today's 10bp spike in 10yr Treasury yields actually still manages to fit inside that bullish narrative, even if only just. […]
    • LO Technology, Broker PPE Products; Training and Webinars This Week; 3.7% Unemployment December 8, 2023
      “What do you call James Bond having a bath? Bubble 07.” In different bond matters, mortgage rates will always be higher than Treasury rates, in part because of the prepayment risk in mortgages that doesn’t exist with Treasury bonds. With the drop in rates, sales management personnel at lenders are busy figuring out how best […]
    • Mortgage Rates Roughly Unchanged Today, But Probably Not Tomorrow December 7, 2023
      If you're reading this on Thursday, December 7th, it is the day before the big jobs report--the one that has all the potential in the world to cause huge reactions for interest rates.  It's not that lenders are watching the economic data and then guessing at how to adjust their rates in response.  Lenders are […]
    • How Big Could Friday's Jobs Report Be? December 7, 2023
      How Big Could Friday's Jobs Report Be? Thursday ended up being a very calm day relative to most of the recent context.  MBS lost an eighth and 10yr yields moved up a few bps, but both are still right in line with their best levels in months.  There were no stand-out market movers and no […]

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