Daily Market Update 11/20/08

Mortgage rates eased Thursday as Initial Jobless Claims reached a 16-year high. Stocks continued their descent after closing below 8,000 yesterday for the first time since 2003. Oil prices fell to $50 per barrel, a whopping 66% decline since July. Congress failed to reach an agreement on a proposed $25 billion bailout for the Big Three domestic automobile manufacturers as debate continues over the appropriate source of funding for the plan.

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