Many of the Wall Street firm are in our same neighborhood, looking for Nonfarm Payrolls to fall 500K plus. Given any number over 400K, we would expect bonds and mortgage pricing to hold their own or rally slightly. Given a number of 500K plus (losses), improvement in mortgage pricing of .50 bps would not be a surprise.
Nonfarm Payrolls – Minus 363K Unemployment Rate – 9.6% Average [...]