This morning’s Jobless Claims numbers were lower than expected. While that is good news and means that less people are unemployed than expected, it does temporarily have an adverse impact on rates. Another factor that caused rates to rise slightly today is a growing consensus that the Fed will reduce the stimulus. Both of these things mean a stronger economy is in our future, but that does mean slightly higher rates. I do think permanently higher rates are still months away. I am hoping for a rebound in rates soon…maybe even tomorrow!
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