Daily Market Update 1/9/09

Mortgage rates were little changed Friday following the Non-farm Payrolls report for December. The US economy lost 524,000 jobs last month, higher than forecast. The Unemployment Rate also exceeded expectations, having risen to 7.2% from 6.7% in November. Stock and oil prices moved lower. Several key economic reports due out next week include Wednesday’s release of Retail Sales data, Thursday’s Producer Price Index (PPI), and Friday’s Consumer Price Index (CPI) and Industrial Production.

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