LaPorte Group Blog

That is probably the only word to describe the stock and bond market right now. The change in mortgage bonds since Martin Luther King Jr day has taken us from a 30 year fixed rate of 5.25% to 6.25% and now back down to about 5.75%. We have been all over the place and there is no sign of the volitility slowing down.

This week has been a big one for news that can affect the interest rates and today's major news was the jobs report. If the numbers come in higher than expected, that can hurt rates. And if the number is lower than expected, that can help rates. Lately the number has been better and in the next month they will revise lower, giving a better impression of the economy.

Well today the number was expected to be a gain of 71,000 jobs and instead it came in with a loss of 17,000 jobs. We did have revisions that added 11,000 jobs to the previous 2 months though. This morning rates did come down a touch.

Looking ahead to next week, there is not much news that would move interest rates on the schedule. We have a couple of minor reportes on Tuesday and Thursday.