Mortgage Rates End Week Lower Despite Friday's Modest Bounce

Minimal Selling Leaves Focus on CPI The first order of business this morning was to reconcile the weaker NFP reading with the seemingly illogical bond market sell-off.  That was easy enough to do by the time we considered the solid drop in unemployment along with the big revisions to the past 2 months of payrolls. It was all the more palatable due to the modest size of the sell-off (especially modest as far as jobs report days are concerned). Thanks to the rally earlier in the week, bonds are still set to end the week at slightly stronger levels.  Bottom line, volatility is minimal. Next week's CPI is the only other report that can hold a candl