MBS MID-DAY: Yesterday’s FOMC Gains Erased

– Claims 326k vs 345k f’cast, 345k previous
– Lowest since Jan 2008
– Continued Claims 2.951 mln vs 2.994 mln f’cast

– Market Reaction: MBS off several more ticks from already slightly weaker morning. 10’s right back to testing to 2.62’s.

In the week ending July 27, the advance figure for seasonally adjusted initial claims was 326,000, a decrease of 19,000 from the previous week’s revised figure of 345,000. The 4-week moving average was 341,250, a decrease of 4,500 from the previous week’s revised average of 345,750.
The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending July 20, unchanged from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 20 was 2,951,000, a decrease of 52,000 from the preceding week’s revised level of 3,003,000. The 4-week moving average was 3,026,000, a decrease of 500 from the preceding week’s revised average of 3,026,500.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/318951.aspx

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