Daily Market Update 11/30/12

Mortgage rates remained virtually unchanged Friday following the release of weaker than expected economic data.  The October Core PCE price index, the Fed’s preferred measure of inflation, rose 0.1%, and was a tame 1.6% higher than one year ago.  Personal Income was flat.  The Chicago PMI manufacturing index rose to 50.4, a bit below forecast.  Readings above 50.0 indicate expansion in the manufacturing sector.  Stocks  moved modestly higher.  The big news next week will be Friday’s release of Non-farm Payrolls and the Unemployment Rate.  No other key data will be released today.

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