Daily Market Update 1/3/13

Mortgage rates were little changed Thursday as stock prices moved lower following yesterday’s surge.  In economic news, weekly Jobless Claims rose to 372,000, above forecast.  Payroll firm ADP estimated private sector job growth of 215,000 in December, beating expectations.  The Mortgage Bankers Association weekly purchase activity index fell by 10.5%, while the refinancing activity index declined by 10.4%.  Average reported 30-year fixed rates rose to 3.52%, not including fees.  The most closely-watched data of the month, Non-farm Payrolls and the Unemployment Rate, will be released tomorrow at 8:30 AM.

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