20 Sep Daily Update
Initial Jobless Claims for last week moved higher once again to 382,000 versus estimates of 375,000. Stocks are modestly negative, likely the effect of QE3 keeping equities propped up. mortgage rates are hitting their all-time lows, doing exactly what Boston’s Fed President Eric Rosengren says the Fed expected according to an interview today. The plan is to give borrowers and businesses a window of time and an incentive to move now, which will hopefully create revenue flow and spur economic activity. mortgage rates are certainly at their lows, so we will advise taking advantage of this time and lock.