Markets are flat this morning as labor costs rise. Bonds and MBS are down. Janet Yellen will be speaking at noon today. Mortgage applications fell 0.2% last week as purchases rose 7.7% and refis fell 6%. Not bad considering last week had the Thanksgiving holiday. The ADP employment change came in at 217k, beating Street … Continue reading Morning Report: ADP jobs report comes in stronger than expected 12/2/15