Interest rates have moved higher in recent days due to some better than expected economic reports. The Fannie Mae Bond has tested support twice today at the 25-day moving average.
If the Bond can close above this level of support, it could be a positive for interest rates.
However, tommorow’s all important Jobs Report could be a market mover.
A poor jobs report is good for Bond prices and Interest Rates.
For now I am starting the day Floating (Not Locking) into rates as I want to see if prices can regain some of their recent losses. I have no reason to expect a great Jobs Report. However, I think it prudent, if you’re not a gambler, to lock later today ahead of the Jobs Report.