Mortgage Market Update 12/28/17

Rates were little changed Thursday in quiet trading. This morning, the Chicago Purchasing Managers Index jumped to 67.6, well above the consensus forecast of 62.5, to the highest level since March 2011. Readings above 50.0 indicate expansion in manufacturing in the Midwest region. Weekly Jobless Claims were unchanged at 245,000, slightly above expectations. Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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