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Daily Mortgage Stance

Mortgage Bonds fell below key technical support levels yesterday, which is not a good sign, but prices are trying to stabilize today.

Not much in the way of economic news today, but the Mortgage Bankers Association reported that mortgage applications declined in the latest week. In addition, outplacement firm Challenger, Gray & Christmas said that planned layoffs at U.S. companies rose in October from September.

We are recommending to cautiously float into tomorrow afternoon ahead of the delayed October Jobs report, which is set to be released on Friday morning. 

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