JOLTS Job Openings 7.3M in May.

The number of job openings was little changed at 7.3 million on the last business day of May, the U.S. Bureau of Labor Statistics reported today. Over the month, hires fell to 5.7 million and separations edged down to 5.5 million. Within separations, the quits and the layoffs and discharges rates were unchanged at 2.3 percent and 1.2 percent, respectively. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

Mortgage Applications Down Again in MBA Weekly Survey: The Market Composite Index decreased -1.1%, the Refinance Index increased +2%, and the Purchase Index decreased by -4%.

MBA reported the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) increased to 4.12% from 4.04%. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) increased to 4.07% from 4.03%. The average contract interest rate for 30-year fixed-rate mortgages backed by FHA increased to 4.01% from 3.97%. The average contract interest rate for 15-year fixed-rate mortgages increased to 3.48% from 3.42%. The average contract interest rate for 5/1 adjustable-rate mortgages increased to 3.58% from 3.56%. The ARM share of activity decreased to 4.9% of total applications.

Nonfarm Payrolls +224k, Unemployment Rate 3.7% in June.

Hiring rebounded following a May slowdown. The unemployment rate inched up to 3.7% and wages grew 3.1% from a year earlier. The broadest measure—which includes part-time workers who want full-time work—rose to 7.2% after hitting a more-than 18-year low in May.

Initial Jobless claims rose 8,000 to 216,000

for the week ended July 13, putting them in the middle of their 193,000-230,000 range for this year. Data for the prior week was revised to show 1,000 fewer applications received than previously reported. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, dipped 250 to 218,750 last week. Continuing claims fell 42,000 to 1.69 million for the week ended July 6. The four-week moving average of continuing claims rose 5,000 to 1.70 million.
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Maximize your Execution The mortgage pipeline is a very dynamic component of a mortgage banking business. Each day, new locked applications are coming in, loans are closing, locked applications are being denied or withdrawn and terms of existing locks are

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At Vice Capital Markets, our hedging philosophy and process is both conservative and analytical.  Using your own historical data, we determine the expected fallout levels for each type of mortgage product in your pipeline.  Using this information along with the

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Since 2001, Vice Capital Markets has successfully managed the interest rate risk and maximized the profitability on over $400 billion of mortgage-backed securities trades and mortgage-related transactions.

Our expertise and familiarity with many types of executions and end investors has yielded superior results for our clients.

Through long rallies, swift declines, and multiple interest rate shocks our fallout models and risk management strategies have steadily and successfully weathered market fluctuations of all degrees.

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