A light economic week

For the most part this is a very light week as far as economic releases are concerned. Most of the movement in mortgage rates this week will be due to "headline" news. For instance, Washington Mutual's release that it may receive a $5B injection from TPG Group for which the company is in current negotiations. Weeks like this can be extremely volatile for the market as these key releases are never forecasted and at times appear out of know where; much like the Bear Stearns "rescue" a couple of weeks ago.

However, with that being said there are two critical releases due out this week that I would like to acknowledge. The first is the Weekly Jobless Claims report which last week shocked the market with a $407K loss. This weeks report is due out Thursday April the 10th at 7:30AM CST with a consensus reading of ($386K). The second is the Consumer Sentiment Report which is scheduled for release on Friday April the 11th at 9:00AM CST. Both of these will most certainly be "market movers" in one direction or the other. Like I have stated almost every Monday in the past "hold onto your hats" because it's going to be another bumpy ride.

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