San Antonio Mortgage Rates Hold as Treasurys pop after jobs report

 

Government debt prices move higher after Labor Department reports unemployment rate spiked to 10.2%.

 

As reported by CNNMoney.com Treasury prices were higher Friday after the government reported that unemployment spiked to 10.2% -- its highest level since April 1983.

The jump raised demand for the perceived safety of government-backed debt, which typically attracts investors in times of economic uncertainty.

But gains were limited ahead of next week's $81 billion record refunding, which includes 2-year and 10-year notes, along with the 30-year bond.

Treasury prices on the rise. The Treasury will kick off the sale with $40 billion of 3-year notes Monday. The auction will continue with $25 billion of 10-year notes and $16 billion of 30-year long bonds later in the week.

Should be another interesting week for San Antonio Mortgages. Stay Tuned

 

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