7/23/09

Things have improved somewhat in the bond market, however, with Bernanke’s comments that rates will remain low for quite some time. That, of course, doesn’t mean jumbo rates will be at 5% soon, but at least they may not be going any higher. Today we have already had Jobless Claims (+30,000 to 554,000, as expected) and we will see Existing Home Sales at 10AM EST. And later today our treasured Treasury Department will announce the amounts for next week’s sale of 2-yr, 5-yr, and 7-yr notes, along with sneaking in a 20-yr TIPS sale. After the numbers we find mortgage security prices better by a smidge.