Daily Market Update 12/31/13

Mortgage rates were little changed Tuesday in quiet trading.  In economic news, the Chicago Purchasing Managers Index fell to 59.1, slightly below expectations.  Readings above 50.0 indicate expansion in manufacturing in the Midwest region.  Consumer Confidence jumped to 78.1, beating forecast.  The S&P Case-Shiller 20-city home price index rose by 0.2% in October and was 13.6% higher than one year ago, the largest annual increase since February 2006.  Markets will close early today.  Happy New Year!

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