Posted To: MBS Commentary
The November Employment Situation Report will be released at 830am tomorrow morning. The last time the Employment Situation Report was recapped on this blog, we were fresh off a one-day QEII rally that had led mortgage rates back down to record lows. (In reality the best loan pricing of our lifetime was consistently offered from October all the way through November 4th, +/- a few bps). Since then the bond market has traveled from one extreme to another. And the trip has not been pleasant. We experienced violent spikes, rapid recoveries, head fakes, nose dives, false rallies, profit taking, positional cleansing, and more recently desperation selling/locking. This was not a pleasant process for you, nor was it a pleasant one for me. In the end, after re-reading everything I wrote leading up to...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Source: www.mortgagenewsdaily.com
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