{"id":8850,"date":"2020-02-05T17:24:24","date_gmt":"2020-02-05T17:24:24","guid":{"rendered":"https:\/\/intelliloan.com\/blog\/?p=8850"},"modified":"2024-10-16T19:13:16","modified_gmt":"2024-10-16T19:13:16","slug":"adp-jobs-numbers-rocket-higher-mortgage-applications-jump-and-services-match-expectations","status":"publish","type":"post","link":"https:\/\/intelliloan.com\/insights\/adp-jobs-numbers-rocket-higher-mortgage-applications-jump-and-services-match-expectations\/","title":{"rendered":"ADP Jobs Numbers Rocket Higher, Mortgage Applications Jump, And Services Match Expectations"},"content":{"rendered":"<p><strong>Interest rates jumped yesterday, and this morning more increases in early trading.<\/strong>\u00a0The 10 yr yesterday increased 7 bps, and at 8:00 am ET this morning up its 5 bps to 1.65%. The safety move over the coronavirus appears to be over.<\/p>\n<p><strong>Chinese television reported possible progress in the hunt for a treatment of the coronavirus,<\/strong>\u00a0but tests were on cells outside the human body, meaning it would be a long way from clinical trials on people. The death toll now 490 and 25,000 infected. The markets are taking the situation in stride this week and not overly concerned about the global economic impact. Last Friday\u2019s stock market drop has been erased.<\/p>\n<p><strong>ADP released its private jobs this morning,<\/strong>\u00a0a huge positive; market expected 154K new jobs, jobs increased 291K.<\/p>\n<p><strong>Weekly Mortgage Applications\u00a0<\/strong>gained 5.0%. This was due to a nice surge in refinance applications of 15.0%. Purchase applications pulled back -10.0%.<\/p>\n<p><strong>At 9:30 am ET<\/strong>\u00a0the DJIA opened +280, NASDAQ +106, S&amp;P +32. 10 yr 1.65% +5 bps. MBS prices at 9:30 am -9 bps from yesterday\u2019s close, and -9 bps from 9:30 am yesterday.<\/p>\n<p><strong>At 10:00 am ETJan ISM non-manufacturing index<\/strong>\u00a0was thought to be at 55.1 from 55.0 in Dec; as released, the index increased to 55.5.<\/p>\n<p><strong>Unless the stock indexes flip today, the interest rate markets will be quiet with little movement from the current levels.\u00a0<\/strong>The 10 yr hit a very critical technical resistance Friday and Monday at 1.51%. With the markets relaxing about the virus, the potential of rate improvements today is slight as long as stocks continue to hold the present gains.<\/p>\n<p><small>Source: TBWS<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Interest rates jumped yesterday, and this morning more increases in early trading.\u00a0The 10 yr yesterday increased 7 bps, and at 8:00 am ET this morning up its 5 bps to 1.65%. The safety move over the coronavirus appears to be over. Chinese television reported possible progress in the hunt for a treatment of the coronavirus,\u00a0but [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":9036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-8850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-intelliloan"],"_links":{"self":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/comments?post=8850"}],"version-history":[{"count":1,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8850\/revisions"}],"predecessor-version":[{"id":9048,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8850\/revisions\/9048"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media\/9036"}],"wp:attachment":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media?parent=8850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/categories?post=8850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/tags?post=8850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}