Tomorrow has two reports scheduled, one of which is a major piece of data that often heavily influences the markets. That will be November's Employment report at 8:30 AM ET. This is arguably the most important monthly report we see, so its impact on the markets and mortgage rates is often significant. It is comprised of many statistics and readings, but the most watched are the unemployment rate, the number of news jobs added or lost during the month and average hourly earnings. Current forecasts call for no change in the unemployment rate of 3.6% while 180,000 new jobs were added to the economy. The income reading is forecasted to show an increase of 0.3%. An ideal scenario for mortgage shoppers would be a higher unemployment rate, a much smaller increase in payrolls (or a decline) and no change in the earnings reading. If we hit the trifecta with all three, we should see bond prices rise and mortgage rates move noticeably lower tomorrow. However, stronger than expected readings may fuel bond selling that would lead to higher mortgage rates.