Pricing on mortgages slips this morning to the lowest level since Christmas. The primary contributor to the deteriorating value seems to be the ADP Private Payrolls data, noting that 298,000 new jobs were created last month. That’s over 100,000 more positions than were expected. Employees aren’t working as hard as they have in the past, however: productivity increased by just 0.2% last quarter. That’s the smallest gain in six years. Although the official Jobs Report won’t be published until Friday, the ADP info seems to have been enough to start pushing interest rates up ahead of the Fed meeting next week. Fed Fund Futures show a 90% probability of a hike coming on the 15th.