Daily Market Update 3/3/14

Mortgage rates were little changed Monday as today’s economic data came in close to expectations.  January Core PCE price index, the Fed’s preferred measure of inflation, rose 0.1%, matching forecast, and was a tame 1.1% higher than one year ago.  The Institute for Supply Management manufacturing index increased to 53.2, a bit higher than expected.  Readings above 50.0 indicate expansion in the manufacturing sector.  No other key data will be released today.

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