Mortgage Rates: High Risk Event Tomorrow

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Posted To: Mortgage Rate Watch

Well folks, here we are in the evening hours of Thursday on a week where much has been made of tomorrow morning's employment report (which I'll refer to as NFP from here on out). If yesterday was the knee jerk reaction to data that has some predictive value for tomorrow's data coming in much stronger than expected, then today was the sober moderation of that reaction. Think of this in terms of a baseball analogy. If a runner on first base, for whatever reason, has an increasing level of believe that he can steal second base, he might increase his lead-off. If the "runner" represents "the market" and 2nd base represents where the market might go if tomorrow's NFP shows strong job creation, then yesterday's ADP report caused our runner to immediately take a highly aggressive lead off position...(read more)

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Source: www.mortgagenewsdaily.com

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