Rate Watch 2-26-2009

Cautiously Floating:
Mortgage Bonds are higher on the heels of several important reports. The unemployment line is getting even longer, as Initial Jobless Claims showed that the number of people collecting benefits reached a record high of 5.11 million. Durable Goods Orders fell for a sixth straight month both domestically and from foreign demand, as the global recession marches on. New Home Purchases dropped to the lowest level since data collection began in 1963.