It’s Bill Rapp, the Mortgage Viking here, let me tell you about what the Good Ole Boys on Wall Street are talking about today…
The 10Y T yield is slightly higher this morning at 2.70% in what can be attributed to follow-through selling pressure from the strong January payrolls report and this week’s Treasury auctions.
Factory Orders are expected today for November, given the government shutdown, but regardless the markets will be looking for some of the hard data over the past few months to gauge any actual slowdown in the data.
Economic surprises have turned sharply higher in recent weeks, led by payrolls, and some other decent numbers. Of course, the trick with economic surprises is that they could be outpacing consensus expectations because expectations have been so low.
Hiring shows no signs of slowing down, even as the unemployment rate ticked higher again to 4.0%.
That is all for today, please do not forget to subscribe and share this post if you found it useful!
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