Mortgage rates inched lower Tuesday as stock prices slid. This morning, the Chicago Purchasing Managers Index rose slightly to 46.3, but was well below the consensus forecast. Readings below 50.0 indicate contraction in the manufacturing sector. Severe winter weather and the West Coast port strikes likely contributed to the lackluster results. Separately, Consumer Confidence jumped to 101.3, easily beating expectations. No other key data will be released today.