Mortgage rates improved today

as bonds get a lift from a disappointing jobs report. Employers added 103k compared with a median forecast of 150k for December—a forecast that was revised higher due to a extremely strong ADP report earlier this week. Stock market indices are in negative territory and the 10-year yield is down around 3.347% at the moment as Bernanke gives testimony before the U.S. Senate offering little new for the markets. He did recognize some recent data is positive but overall presented a more stale speech than the market was anticipating. Meanwhile, mortgages have tightened to Treasuries and regained all of Wednesday’s losses. We can hope this pattern will hold. Have a nice weekend.