Rate Update July 2, 2008

Mortgage Rates rose modestly yesterday afternoon after the stock market rallied in the afternoon.

Attention is now focused on tomorrow’s monthly jobs report. I have posted a new article on my blog explaining the importance of the monthly jobs report which you can view at this link. The bottom line is that the monthly jobs report is an indicator of the economies health. When this report shows fewer jobs created than expected mortgage rates tend to go down and vice versa.

Watch today’s you tube video for our recommendation and why.

Current Outlook: floating into tomorrow’s jobs report

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