Mortgage Secrets…Learn What the Experts Say

A better than expected Jobs Report showed that 51,000 Jobs were lost in July, while the consensus was for 75,000 jobs lost. This report marks the seventh consecutive month of job losses. As we also suspected, the Unemployment Rate rose to a four year high of 5.7%, up from last month’s reading of 5.5%. Hourly Earnings rose 0.3%, or 6 cents to $18.06 per hour, matching economists forecasts. As expected, Bonds had a knee jerk reaction to the downside as the report was better than expected, but the increase in the Unemployment Rate has prevented the sell-off from accelerating so far.