Friday has two reports scheduled, one of which is the other extremely important and highly influential to the financial and mortgage markets scheduled this week. That would be November's Employment report at 8:30 AM ET. The Employment report contains many employment statistics and readings. Most watched are the unemployment rate, the number of news jobs added or lost during the month and average hourly earnings. Current forecasts show the unemployment rate to have slipped 0.1% to 4.5% while 530,000 new jobs were added back to the economy. The income reading is forecasted to show an increase of 0.4%. The 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 Friday. However, stronger than expected readings may fuel bond selling that would lead to higher mortgage rates.