Jobless claims fall to the lowest level since 1969, declining by 10,000 to 202,000

for the week ended March 30. Data for the prior week was revised to show 1,000 more applications received than previously reported. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 4,000 to 213,500 last week, the lowest level since early October 2018. Continuing claims decreased 38,000 to 1.72 million for the week ended March 23.

Non-farm payrolls up 196,000 in March, and the jobless rate was unchanged at 3.8%,

while average hourly earnings increased 3.2% from the prior year. Payroll gains were led by education and health services as well as professional and business services. Construction payrolls rebounded with a 16,000 gain while manufacturing continued to weaken with a loss of 6,000 jobs.

ADP Employment Change +129K in Mar.

Most of new jobs came from service sector, with 135,000 additions, according to ADP report. The March additions were down from a seasonally adjusted gain of 197,000 jobs in February.

Mortgage Applications Surge Again in MBA Weekly Survey: The Market Composite Index increased by 18.6%, Refinance Index increased by 39%, and Purchase Index increased by 3%.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) decreased to 4.21% from 4.35%. The average contract interest rate for 30-year fixed-rate mortgages backed by FHA decreased to 4.41% from 4.48%. The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.78% from 3.87%. The average contract interest rate for 5/1 adjustable-rate mortgages remained unchanged at 3.77%. The ARM share of activity increased to 9.5% of total applications.
What We Do
Three reasons to choose us for all your Ideal hedging

Services

Maximize your Execution The mortgage pipeline is a very dynamic component of a mortgage banking business. Each day, new locked applications are coming in, loans are closing, locked applications are being denied or withdrawn and terms of existing locks are

Philosophy

At Vice Capital Markets, our hedging philosophy and process is both conservative and analytical.  Using your own historical data, we determine the expected fallout levels for each type of mortgage product in your pipeline.  Using this information along with the

Benefits

  Primary Benefits of Hedging Greatly improved execution over best efforts. In typical market environments, a 25 to 55 basis point improvement in execution is realized. In high-volume environments, double the typical improvement is not unusual. Improved flexibility and execution
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About Us
At Vice Capital Markets our goal is to help you

Since 2001, Vice Capital Markets has successfully managed the interest rate risk and maximized the profitability on over $400 billion of mortgage-backed securities trades and mortgage-related transactions.

Our expertise and familiarity with many types of executions and end investors has yielded superior results for our clients.

Through long rallies, swift declines, and multiple interest rate shocks our fallout models and risk management strategies have steadily and successfully weathered market fluctuations of all degrees.

Meet the Team
Some of our Company Officers

Troy D. Baars

President

Shawn D. Ansley

Managing Director

Kimberly M. Campbell

Vice President

Christopher M. Bennett

Principal
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