ADP Employment
Tomorrow has three reports set for release that we will be watching, meaning there is a good possibility of seeing a change in mortgage rates. November's private-sector Employment report from payroll processor ADP will begin the day’s activities at 8:15 AM ET. This non-governmental report gives an indication of strength in the private portion of the employment sector. Analysts are expecting it to show 20,000 new jobs were added to the economy last month, down from October’s 42,000. A smaller number, or better yet a decline in jobs, would be considered good news for the bond market and mortgage rates. Another sign of weakness in the sector also could sway the Fed to address softening employment by lowering key rates next month instead of worrying about inflation growth by leaving them unchanged.