Industry News
Mortgage Industry News
Unemployment Rate Ticks Up
07/08/2011
Nonfarm Payrolls printed well below expectations, +18K vs. +100k consensus; the unemployment rate ticked up to 9.2%; U6 jumped 0.4% to 16.2%. Treasuries and mortgages are rallying aggressively off of the disappointing labor news; stock futures and commodities are down. Currently, the Ten Year yield is at 3.06% (3.15% yesterday) and the 2-10 yield spread is at 265bps, flattening 4bps since yesterday morning.
