Mortgage rates move higher today, mostly due to waning political risks in Italy. To be honest, I only really put the jobs data in the headline because the mighty Employment Situation Report is a perennial market mover--especially for rates. In today's case, however, bond market trading levels (the stuff that dictates rates) ended the day right where they were just BEFORE the jobs report came out. Nonetheless, those trading levels were sufficient for a noticeable move higher in rates. That means rates were rising due to something that happened before the jobs report. When it comes to the US bon...
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