Daily Market Update 1/2/15

Mortgage rates inched lower Friday following the release of weaker than expected economic data.  Construction Spending fell 0.3% in November, the first decline since June.  Separately, the Institute for Supply Management manufacturing index fell to 55.5, below the consensus forecast of 58.0, to a six month low.  Readings above 50.0 indicate expansion in the manufacturing sector of the economy.  No other key data will be released today.

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