Market Commentary – 4/1/15

Mortgage bond interest rates remain range bound this week with a small downward bias due to weaker than expected economic data from the Institute of Supply Management (ISM) index and ADP. The ISM reported that manufacturing activity in the US fell to its slowest pace since May 2013 Furthermore, the US stock market has not had a good week which has also helped to lower bond yields. The back half of the week is filled with many economic reports with all a focus on Initial jobless Claims, Non-farm Payroll and the Unemployment Report . Rate trend remains sideways.