Daily Market Update 12/2/16

Mortgage rates inched lower Friday following the release of key employment data for November.  The economy added 178,000 jobs last month, a bit more than expected.  Separately, the Unemployment Rate slid to 4.6%, well below forecast, to the lowest level since August 2007.  The decline, however, was mainly due to workers leaving the labor force.  The main focus of investors was a 0.1% decrease in average hourly earnings.  An increase of 0.2% had been expected.  Wages rose 2.5% over the past 12 months, well below expectations.  No other key data will be released today.

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