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The Labor Department did give us a surprise in this morning's release of weekly unemployment figures. They reported that new claims for benefits fell drastically last week. They were expected to be at 575,000, but today's release announced that only 492,000 new claims were filed. Fortunately, this data is not considered to be of high importance to the markets therefore the impact on mortgage rates has not been significant.

The bond market is currently down 14/32, but we will see an improvement in this morning's mortgage rates of approximately .250 - .375 of a discount point due to strength late yesterday.