Mortgage Rate Update July 8, 2011

Mortgage rates are better this morning.

This mornings Bureau of Labor Statistics report showed very tepid job growth for June.  After yesterdays better-than-expected jobs figures from the ADP report analysts had been expecting over 100,000 new jobs.  But as we pointed out yesterday’s ‘rate update’ the ADP & BLS report rarely show correlation.  That proved true again this morning.

We are in a floating position!

Current Outlook:  floating

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