Rates Dive After Multi-Year High in Unemployment

Also in this edition:
• The MLN Minute
• Mortgage Bytes

Aside from CPI, employment data are typically the biggest routine driver of mortgage rates. And on Friday, StatsCan dealt borrowers a good hand on job numbers, at least from a rate perspective.

For the full rundown, skim through MLN's latest Mortgage Memo. To summarize, unemployment accelerated to a multi-year high of 6.4%, and job creation took another nap, with an estimated 1,400 jobs slipping away in June.

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