Daily Market Update 12/19/12

Mortgage rates were little changed Wednesday after inching higher over the past few days.  In economic news, November Housing Starts declined 3% to an annual rate of 861,000, below forecast.  Meanwhile, Building Permits, a leading indicator, increased 4% to the highest level since July 2008.  Investors’ main focus remains the “fiscal cliff” negotiations in Washington, where progress has been slow.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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