Mortgage rates inched lower Friday following a disappointing Employment Report. The economy added 103,000 jobs in December, well below forecast. Surprisingly, the Unemployment Rate fell to 9.4% from 9.8%, the lowest level in 19 months. Economists suggest that seasonal factors may have been a factor in the large reduction. Over the last three months, the economy added an average of 128,000 jobs per month, roughly the number needed to keep pace with population growth. This morning, in testimony before the Senate Budget Committee, Fed Chairman Ben Bernanke said “it could take four to five more years for the job market to normalize fully”. Next week, the December Producer Price Index will be released on Thursday, the Consumer Price Index, Retail Sales, and Industrial Production on Friday. No other key data will be released today.