San Antonio Mortgages and Bonds mixed after jobless data

 

Longer-term debt prices fall on better-than-expected jobless claims and supply concerns.

  

 

As reported by CNNMoney.com mortgage interest rates/bond prices were mixed on Thursday with dated Treasurys edging lower after the government reported that the number of Americans who filed for unemployment benefits slipped last week.

The Labor Department said initial jobless claims fell more-than-expected to 512,000, which triggered a rally on Wall Street. Still, investors are anxiously awaiting the October employment report due Friday.

"Investors look at earnings and employment as key drivers as to when the economic recovery is going to occur, and the consensus is the first half of 2010," said Bill Larkin, portfolio manager at Cabot Money Management. "A disappointing unemployment number will hinder economic recovery, which would be favorable for the Treasurys but negative for the stock market."

Economists are expecting the economy to have lost another 175,000 jobs last month, which could push the nation's unemployment rate closer to 10%, according to a consensus of economists surveyed by Briefing.com.

Bond prices. The 30-year bond lost 1/32 to 101-19/32. Its yield rose to 4.41% from 4.40% late Wednesday. Bond prices and yields move in opposite directions.

The benchmark 10-year note was down 1/32 to 100-25/32 and its yield was 3.53%.

In early Friday morning trading, San Antonio mortgage interest rates/bonds are slightly lower.

 

This blog was posted by Steve Brown of Gold Financial Services, universal City, TX. Gold Financial Services is a full service mortgage banking firm with a wide variety of conventional and government loan products, including Texas Veterans Land Board assistance program.                                                         www.mortgagesbysteve.com  (210)862-2885    sbrown0007@aol.com