Cari Anderson's East Bay Mortgage Update for August 6th 2010
Economic News: Yesterday's Jobless Claims report was a bit disappointing. With the week ending July 31st the initial jobless claims rose 19,000 to 479,000. The four week moving average is still below last month's level which is a positive. Today's Employment Report was not taken well by the market and equities are experiencing a broad selloff. On a brighter note the underlying data exposed some good news with a gain in both wages and average weekly hours worked.
Mortgage Markets: The yield on the 10 Year Note is 2.827% due to the weakness in the equity markets. In addition, Mortgage Backed Securities are rallying as well.
Next Week's Reports: Tuesday: Productivity and Costs & FOMC meeting announcements. Wednesday: International Trade. Thursday: Jobless Claims. Friday: Consumer Price Index, Retail Sales & Consumer Sentiment.
Stay tuned for the Next East Bay Mortgage Update...
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Cari CA Real Estate Broker License 01220718...NMLS License ID 234849
