| Jul 8, 2011 3:51PM Seven days ago mortgage rates were in a precarious position. Home loan borrowing costs had spiked and the lock/float environment was shifting in an unfavorable direction. That outlook carried over into this week but never really developed, instead we got a "sideways shuffle" (to suspenseful music). All new lock/float considerations seemed to be a factor of this week's "high-risk" event: The June Employment Situation Report. That event came this morning....and it provided guidance. From the Release... Jul 8, 2011 11:40AM The Bureau of Labor Statistics dumped a bucket of ice water on the market this morning when it released the June Employment Situation Report From the Release: "Nonfarm payroll employment was essentially unchanged in June (+18,000), and the unemployment rate was little changed at 9.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment in most major private-sector industries changed little over the month. Government employment continued to trend down." Plain and Simple : The market...
 | 
