Jobs are key data point
Posted March 8, 2012
Jobless claims for the week came in slightly higher than economists had expected. But even with the increase of 8,000 this week, the overall number is still hovering around the four-year low mark.
The bond market has moved further north over the past couple of trading sessions, with the 10-year yield sitting just above 2 percent as of mid-afternoon Thursday. Mortgage rates continue to trend within a very narrow range and remain strong for homeowners and potential buyers here in the Triangle.
All eyes are on the employment number tomorrow, which will give us a good indication of where we’re heading as we enter the all-important spring housing season. The strong ADP report from yesterday has paved the way for another good jobs number tomorrow.