Daily Market Update 12/5/11

Mortgage rates held steady Monday.  In economic news, Factory Orders declined 0.4%, matching forecast.  The Institute for Supply Management services index came in at 52.0, slightly lower than expected.  Investors are mainly focusing on developments in Europe, where there is increased optimism that European leaders will reach an agreement to help ease the sovereign debt crisis.  Italy passed a package of new austerity measures over the weekend.  No other key data will be released today.

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