Daily Market Update 4/1/16

Mortgage rates held steady Friday following the release of key monthly employment data.  The economy added 215,000 jobs in March, above the consensus forecast of 210,000.  Separately, the Unemployment Rate rose to 5.0% as more people sought work.  Average Hourly Earnings increased by 0.3%, in line with expectations.  In other news, Construction Spending fell unexpectedly by 0.5%.  The Institute for Supply Management manufacturing index rose to 51.8, beating forecast.  Readings above 50.0 indicate expansion in the manufacturing sector.  No other key data will be released today.

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