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Thank heavens for a slow week on Wall Street because I have neglected you all these past few days. Don't take it personally, of course.
Right now, it's all eyes on Friday and the non-farm payrolls report due at 7:30 A.M. CDT. After Bernanke's hawkish remarks on inflation last week, traders are nervously waiting for the release to place their next major bet.
Economists are predicting 120,000 new jobs created in March.
Until Friday (or Thursday afternoon), overseas tensions could spark rates in one direction or another. If Iranian-British tensions spill over to the United States, for example, mortgage rates may fall on a flight-to-quality.
Of course, mortgages may no longer be considered as "quality" as before so maybe there won't be as much foreign-nation buying to buoy down rates.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
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