Welcome to the Jill on Money Coronavirus Market Update. It is Thursday, July 2nd. And today's going to be a pretty big day. We're going to have the monthly employment report.

And that will be the June jobs report. Estimates are all over the place.

I've seen folks who are predicting two to three million jobs that came online,

the unemployment rate going down, going up, kind of depends what your reference point is. I think what's clear is that the jobs market pretty much

bottomed out in April, late March, let's call it through April. And now we're

slowly grinding forward.

Now, whether the unemployment rate is 13%, 14% or 11%, that is really high.

Remember, the unemployment rate was at 3.5% in February. So it's really astonishing.

Okay, now, what we have for you today in terms of our podcast is the segment that I did

earlier this week on CBS this morning because so many of you have been writing in and asking about refinancing, the housing market in general.

I mean, look, mortgage rates continue to remain at all time lows.

There's just a lot going on, but be very clear

that the housing market, it's just acting

a little bit weird right now.

So in this segment with Tony DeCope on CBS this morning, I kind of give the

current state of the housing market. So here's the segment.

In this morning's eye on money, we look at the rapidly changing housing market and the impact of the pandemic on that market for the month of May

Pending Home Sales which measure homes under contract strongly rebounded with an increase of more than 44%.

That was the biggest monthly gain ever in the data going back all the way to 2001.

Two other monthly reports showed a more mixed picture.

Sales of newly built homes jumped 16.6% in May, but existing home sales fell by nearly 10%.

CBS News Business analyst Jill Schlesinger joins us.

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