As you know, the first Friday of the month means we got the JOBS report. We added 242,000 jobs to the employees and the unemployment remained at 4.9%. Some say this is not the true number of those actually unemployed, because the number does not include people who have given up on finding a job or have not found a job equal to their training. Rumor has it that there are still many 20 something living at home and 50 somethings having trouble finding work. Nonetheless the “happy” new is not good for rates.

This week rates went up .125% in most loan types.