Market Comment

In trading this morning, Mortgage Bonds are continuing down the path of least resistance... lower.
In the news, Initial Jobless Claims were reported below expectations and at the lowest level in 14 months. Continuing Claims, however, are on the rise and are beginning to show a more realistic picture now that the unemployment claims extension was passed.
Tomorrow brings the highly anticipated Jobs Report, which is expected to be reported at 125,000 jobs lost. If the report comes in better than expected, losses can occur rapidly and significantly. Therefore, I recommend locking prior to tomorrow's Jobs Report.

Leonard Winslow, New American Mortgage
434-760-2580 (cell)
leonard.winslow@newamerican.com
Licensed by the Virginia State Corporation Commission. License #: MC-5112.