Rates closed the week up on some products and flat on other.
· Unemployment rate is up to 5.5% from 5.0% last month
· The half point raise was the biggest jump since February of 1986
· Oil prices continue to rise and started the day at $136 per barrel. Watch this as inflation causes interest rates to increase.
· It’s NOT all bad though… the stock market lost some of its gain today which is good for mortgage pricing. We’ll see how things play out next week.