Mortgage Market Update 12/8/17

Mortgage rates were little changed Friday following the release of key employment data for November.  The economy added 228,000 jobs last month, beating the consensus forecast of 190,000.  The unemployment rate was unchanged at 4.1%.  Average hourly earnings rose 0.2%, a bit below expectations.  The upside surprise in job gains was offset by the miss in wage growth, causing little reaction to the data.  Separately, Consumer Sentiment fell unexpectedly to 96.8.  An increase to 99.0 had been forecast.  No other key economic data will be released today.

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