Despite a fairly strong employment report, mortgage rates remained unchanged with conforming no point 30 year fixed rates still averaging 4 1/4 % and 15 year rates closer to 3 1/4. The lack of movement in mortgage rates was mostly due to the fact that the report was in line with expectations with the economy creating 217,000 jobs and the unemployment rate unchanged at 6.3 %. Unfortunately most of the gains in jobs were in lower paying positions.
And now for something completely different: In this great nation of ours we have many important and historic monuments, but did you know that the San Francisco cable cars are the only mobile national monuments?
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This is Mehran Aram with today's ARAMCO Report.