Today, Mortgage Rates are getting a big boost from the Initial Jobless Claims. Most Economists were projecting improvement, but the numbers worsened (coming in at 479k). The Philadelphia Fed Index came in at the estimates. The Economic Leading Indicators (considered a minor report) shows some negativity, as a result from the big pullback of the Building Permits (shown earlier this week). But Mortgage Interest Rates are benefiting from the Investors Concerns in the European Crisis and the US Economy's Recovery (and sustaining itself). Currently, the DJIA was down more than 200, as well as the rest of the Stock Market. This "Flight to Quality" effect has benefited the Bond (MBS) Market, which in turn improves Home Loan Rates.
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