Daily Mortgage Interest Rate Observer 07/02/09
June payrolls loss were great then expected at 467,000 (good for rates)
Unemployment came in at 9.5% vs. the expected 9.6% (neutral to bad for rates)
Average hourly earnings remained unchanged versus expected .1% gain (good for rates)
workweek down .1 hr to 33.0 hrs. (good for rates)
We expect to see mortgage interest rates dip about an 1/8th of a precent today.
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