As was the case for all industries, monthly employment expanded in the mortgage sector. The positive news hurt interest rates. Still, unemployment inched higher, and wage growth stalled.

U.S. companies increased nonfarm payroll employment by a robust 222,000 jobs during June, according to data published Friday by the Bureau of Labor Statistics.

Job growth increased compared to the previous month, when an upwardly revised 152,000 employees were added. But the expansion came up well short of the same month last year during the Obama administration when nonfarm employment surged by an upwardly revised 297,000.

Source: Mortgage Daily