Daily Market Update 1/16/14

Mortgage rates were little changed Thursday as this morning’s economic data came in close to expectations.  Weekly Jobless Claims fell to 326,000, slightly below forecast.  The December Consumer Price Index (CPI) rose 0.3%, matching the consensus, and was 1.5% higher than one year ago.  Core CPI, which excludes volatile food and energy components, increased 0.1%, as expected.  The Philly Fed Index, a measure of manufacturing activity in the Philadelphia region, came in at 9.4, beating expectations.  Readings above zero indicate expansion in the manufacturing sector.  Stocks moved lower.  No other key data will be released today.

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