Daily Market Update 12/20/12

Mortgage rates held steady Thursday following the release of stronger than expected economic data.  Third quarter GDP was revised higher to show economic growth of 3.1%, well above the 2.7% level reported last month.  Weekly Jobless Claims rose to 361,000, close to forecast.  Leading Indicators declined 0.2%, matching expectations.  The Philadelphia Fed Index, a survey of manufacturers in the region, rose to 8.1.  A reading of -2.0 had been expected.  Readings above zero indicate expansion in the manufacturing sector.  Existing Home Sales jumped 5.9% to 5.04 million annual units, the highest level in three years.  No other key data will be released today.

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