Little movement in markets
Posted January 4, 2012
Bonds are flat this morning, remaining under 2 percent as Mortgage Rates stay within a narrow range for the second day of trading in 2012.
November factory orders were up 1.8 percent– that number came in slightly lower than the consensus estimate of 2 percent. We’ve seen a muted market reaction so far this morning to that report.
Mortgage Applications were down 4.1 percent for the week ending December 30th. Refinances now make up 82 percent of all mortgage transactions. That figure is the highest we’ve seen for all of 2011.
Tomorrow brings us the ADP Employment Report and Weekly Jobless Claims – followed by the always interesting December Jobs Report on Friday.