Maine Mortgage Market Update 11.10.2010

Mortgage bond prices opened lower Wednesday morning adding to the losses seen Tuesday afternoon.

In news released this morning, weekly jobless claims stood at 435K and continuing claims, a summation of all receiving benefits stood at 4,301K. Economists’ expectations were for a read of 450K and 4,350 respectively. That data was stronger than expected and not bond friendly.

In other news, the trade balance stood at –44B. Traders were expecting a deficit of 44.8B. That data was near expectations.

Market participants are now waiting for stocks to begin trade at 9:30 am ET and for the outcome of the Treasury auction of $16B in 30-bonds at 1:15 pm ET.

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