A much better than expected June employment report initially pushed bond yields sharply higher, but later in the session half of those losses were recouped. Traders concluded that the report did not show enough economic acceleration to shift the Fed’s monetary policy. Meanwhile according to Black Knight, foreclosure starts unexpectedly jumped by 9.5% in May. Conforming no point 30 year fixed mortgage rates average 4 1/8th with 15 year rates closer to 3 1/8th.
And now for something completely different: Did you know that on April 9, 1993, the Colorado Rockies set a team record for attendance on an Opening Day game? 80,227 fans came to see the first game ever at Mile High Stadium.
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.
This is Mehran Aram with today's ARAMCO Report.