Mortgage bond prices finished the week near unchanged which kept rates steady. There was some seesaw trading but within a relatively narrow margin as Fed officials continued to discuss rate increases. Fed Vice-Chair Fischer said the economy was near full employment. Consumer confidence was expected at 97 but came in at a 101.1 reading.
ADP employment increased 177K versus the expected 170K increase. Weekly jobless claims were 263K versus the expected 265K. Productivity fell 0.6% versus the expected 0.5% decrease. ISM Index was a weaker than expected 49.4. Analysts looked for a mark of 52. Unemployment was 4.9% and payrolls increased … (0 comments)
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