Mortgage Market Update - A good day to lock!

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Mortgage and Lending with Skyline Home Loans NMLS #311662
This morning the government released the February Job Openings and Labor Turnover Survey (JOLTS), a seldom reported, but Janet Yellen-favorite employment report.  The JOLTS reported 5.743 million unfilled jobs, up from 5.655 million openings in January, indicating a very tight job market.  More Fed-speak yesterday indicated the Fed will begin to unwind its MBS holdings later this year (see chart below).  Treasuries are rallying this morning on a flight-to-safety bid (North Korea).  Mortgage spreads are wider this morning.  The 10-year is yielding 2.32%, 4bps below yesterday’s close.
 
 
 
Federal Reserve Balance Sheet
 
Source: Thomsen Reuters
Posted by

Matt Brady

 

Builder Sales Manager, NMLS ID#311662

(858)342-8659 cell |844-268-1952fax

 

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mbrady@skylinehomeloans.com| mattbrady.skylinehomeloans.com    
1455 Frazee Road., Suite 705| San Diego, CA 92108

 

    

 

 

 

BIA SanDiego 15 year Member and P2 Sponsor

 

 

 

BIA SMCBoard Member since 2012

 

 

 

 

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