>In this week’s news we found even more signals that the worst of the recession is behind us. The national unemployment rate dropped to 9.4% as July’s job losses were the lowest since August 2008. Overall, the economic news helped boost stocks, as the Dow gained 114 points to close the week at its highest level of the year.
The economic news and increase in Stocks last week, however, put pressure on Bonds, which ended the week lower, causing home loan rates to increase. Click Here To View The Mortgage Market Update courtesy of Mortgage Consultant, Andrew Koijane of O’Dette Mortgage Group or call 800-404-2129.