Daily Market Update 12/8/16

Mortgage rates were little changed Thursday in volatile trading following the European Central Bank (ECB) meeting.  The ECB announced and extension to its bond purchase program through the end of next year, as anticipated, but unexpectedly reduced monthly purchases from $80 billion euros to $60 billion.  Global bond yields initially moved higher, but have since partially recovered.  In the U.S., weekly Jobless Claims fell to 258,000, close to forecast.  No other key data will be released today.

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