Unemployment Claims Rise Modestly, Manufacturing Data Eyed

Mortgage pricing wavered throughout the day yesterday, moving with the ebb and flow of rumor and debate on the debt ceiling. With only 13 days before the apocalypse, progress has been spotty, at best. If a solution isn’t found by midnight, will the cost of US debt pumpkin into the double digits as Greek borrowing costs have? Only time will tell, but the consensus is that a default would be catastrophic. Ultimately, rates closed marginally higher than on the prior day.