Ahead of tomorrow's July Jobs Report, which carries a big headline risk, locking is recommended. Outplacement firm Challenger, Gray & Christmas reports that employers cut 105,696 workers from their payrolls in July. That is 136% greater than the 44,842 cuts recorded in June. Weekly Initial Jobless Claims at 270K, just near the 271K expected. WTI oil at $44.71/barrel down 44 cents. Analysts see $43/barrel as support. Freddie Mac reports the 30-yr fixed average contract for a conforming loan ($417K 0r less) fell to 3.91% in the latest week with 0.6 in points. U.S. dollar index continues to edge higher to 98.16, +0.10 sensing a rate hike is just around the corner. Freddie Mac reports the 30-yr fixed average contract for a conforming loan ($417K 0r less) fell to 3.91% in the latest week with 0.6 in points.