The Mortgage Update

Friday saw a historic market move, increasing rates higher, which was a direct effect of a stronger-than-expected Employment Situation Report. This report not only showed June job creation was better than expected, but revised the last two months into stronger territory as well. Most investors saw this as a profound indirect consideration to future Fed policy. There is no economic news to be released today or tomorrow. FOMC minutes are the market mover this week, scheduled to be released on Wednesday.