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Jason P. Oelrich, CPA

Today's employment report 11-2-2012

Friday, November 2, 2012 - Article by: Jason P. Oelrich, CPA - Guaranteed Rate - Message

. Although strong, the report is actually a bit of a mixed bag for mortgage rates.

Typically, a strong job print is bearish for mortgage bonds. Today, however, our downside is limited as this is good news for Obama. The market sees an Obama win as a positive for the low rate environment we've been working in and most believe 10yr rates will fall another 10 basis points if he wins. Romney, on the other hand, would be much more hawkish and unlikely to continue the Fed policy of quantitative easing, pushing rates up ~20 basis points immediately.

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