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Daily Mortgage Stance

Mortgage Bonds are trading modestly higher, despite better than expected economic data this morning, which on the surface was positive.

Gross Domestic Product (GDP) for the 3rd quarter rose more than expected while Weekly Initial Jobless Claims declined in the latest week. However, within the GDP report it showed that consumer spending continues to decrease, not a good sign for the U.S. economy going forward.

Ahead of tomorrow’s delayed October Jobs Report, we are recommending to lock in the short term, which is measured in a few days to two weeks.

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