We've seen a rate improvement for two straight days, but the big news is yet to come. Tomorrow, we will be watching intently for the market's reaction to the GDP report. This is the 1st release of the 2nd quarter's number. The Fed will also be watching the employment cost index, which is an indicator of inflation.
Next, we have the monthly Jobs Report on Friday. Today ADP reported a surprise increase in private payrolls, giving the market hope for an upside surprise on Friday. Stay tuned... it's going to be interesting the next couple of days.
Par rates today: 30 year Fixed 6.25% 15 year Fixed 5.875% 5 year ARM 5.875%