Mortgage Market Update 1/3/18

Rates held steady Wednesday as newly released economic data came in close to forecast. This morning, November Construction Spending increased 0.8%, slightly above expectations. The Institute for Supply Management manufacturing index rose to 59.7. A reading of 58.0 had been expected. Readings above 50.0 indicate expansion in the manufacturing sector of the economy. Detailed minutes from the December 13 Fed meeting will be released at 2:00 PM.

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