Oil and Inflation are taking their toll | Mortgage Bonds -50bp

Inital Jobless Claims 5/17 | Reported 365,000 | Est 370,000 | Prior 371,000 | MODEST

Initial Jobless claims report slightly better than expected this morning.  The economy is in a rough spot with the Feds hands being tied because of their inflation fears.  Oil hit $135 a barrel and Gold is up.  Mortgage rates will have at least a .125% increase across the board this morning until the Bond bounces off the current level of support.