Mortgage rate moved higher still yesterday. Investors pulled their money out of mutual funds, which invest in bonds and MBS, causing bond prices to fall and rates to increase. The San Francisco Federal Bank President claimed the economy was improving, just at a slow and moderate pace. His remarks, supporting Federal Bond tapering caused a slight jump in the market yesterday. Today starts two big economic news days. Jobless claims will be released today; economists forecast layoffs jumped to 34% in August. Hopefully, this will be enough to cause a rally in the market today. Once again, all eyes will be on Syria and the political unrest in the region. Busy day…
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