Danny Salas

Chico, CA Interest Rates Market Report – Economic Influences – January 21, 2010

States Didn’t Turn In Their Homework

Initial Jobless Claims came in at 482,000.  This is much worse than the 440,000 expected, but also up 36,000 from last week’s January 16th’s numbers.  Normally this would really benefit interest rates, however, these numbers have been sort of, artificially produced.  Couple of reasons why…some states send in their numbers, in time, because of the Martin Luther King, Jr. holiday.  Also, some of the claims that were not calculated in the Christmas and New Years weeks’ data is coming in now.  So, the bond market took this information with a grain of salt.

Locking Advice

We have managed to move above the 200-Day Moving Average and are tinkering just above the 100-Day Moving Average.  The 50-Day Moving Average is just above current levels.  Here’s the scoop.  It may be quite difficult to break above the 50-Day Moving Average.  So, since we’re currently headed up, with levels up 25 Basis Points, very, very cautiously floating might be beneficial.  I think we’ll probably sit right under the 50-Day Moving Average, but if we play around with the 100-Day Moving Average, converting to a lock bias will be prompt.

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This entry was posted on Thursday, January 21st, 2010 at 12:27 pm and is filed under Chico Home Loans, Home Buying, Interest Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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