Daily Market Update 12/23/15

Mortgage rates were little changed Wednesday in quite trading as today’s economic data came in close to expectations.  November Durable Goods Orders were unchanged from October, a bit better than expected.  The Core PCE index, the Fed’s preferred measure of inflation, rose 0.1%, matching forecast, and was a tame 1.3% higher than one year ago.  Personal Income increased 0.3% in November, matching expectations.  New Home Sales rose to 490,000 annual units, below the consensus forecast of 505,000.  Consumer Sentiment increased to 92.6, slightly above forecast.  No other key data will be released today.  Our office will be closed on Thursday and Friday in observance of Christmas.  Have a safe and happy holiday!

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