Daily Market Update 12/3/09

Mortgage rates were steady to slightly higher Thursday as weekly Jobless Claims fell to 457,000, below the consensus forecast of 480,000, and to the lowest level in 15 months. Third quarter Productivity was revised lower to 8.1% from 9.5%. The Institute for Supply Management services index fell unexpectedly to 48.7, indicating contraction in the services sector of the economy. Stocks were mixed. Tomorrow, the closely-watched Employment Report for November will be released at 8:30 AM et.

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