The head of the National Transitional Council military arm announced on Al Jazeera Arabic that Gadhafi is dead. The report hasn’t been confirmed.

Mortgage bonds are weaker at the open pushing rates higher as news out of Europe indicates the euro zone’s bailout facility will be able to buy EU bonds on the secondary market. The US debt market was weaker heading into the jobs data and didn’t move move following it.

Stock futures are higher adding addition pressure to mortgage bonds. The flight to quality buying of US debt instruments continues to fluxuate as hopes of a European debt solution increase. AS WE CONTINUE TO STATE….the trouble in Europe is far from over and we have been on this roller coaster for some time so expected more volatility to come!!!

Weekly jobless claims @ 403k, expected @ 400k, relatively in line with expectations

Maine Mortgage Market Update 11.22.2010

Mortgage bond prices remain higher Monday morning erasing the losses seen Friday afternoon and more. Rates are receiving support from after Ireland received an estimated $95B euro bailout from the EU and IMF. In addition, lower stocks are also supporting rates.

With no economic news set for release today, traders will spend the day watching stocks to help gauge interest rate direction. At the 10:00 am price point, the DOW was down 21-points.