Where are rates going? They have risen a little, but are holding steady now. We have a battle between cheap government money and the first signs of inflation. Who will win? It depends on what the inflation numbers are, and you have to throw in there jobs and GDP numbers.
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What's up today: ADP and ISM Attempt to Break Monotony
Private payrolls by ADP's count rose only 158,000 in March which is far below ADP's 237,000 count for February (revised). Note that the government's initial private-payroll count for February is 246,000.Employment is the weak link in March's non-manufacturing from the ISM Non-Mfg Index whose headline composite index fell 1.6 points to a 54.4 level that indicates the slowest rate of monthly growth since July last year. The employment index is down a sizable 3.9 points to 53.3, still indicating monthly growth but -- in a parallel to this morning's ADP report -- monthly growth at a slowing rate.
Dow is trading at 14,606-55.22 the 10 yr bond is at 1.83 from 1.86 Yesterday, . Currently mortgages are unchanged from Yesterday
Conv. - 3.5%
Average - 3.58%
FHA. - 3.25%
Remember the power of positive thinking!!!
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