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Mortgage Market Update 12/7/18

Rates held steady Friday as key employment data came in below expectations.  This morning, the Labor Department reported the economy added 155,000 jobs in November, below the consensus forecast of 190,000.  The Unemployment Rate remained at 3.7%.  Average Hourly Earnings rose 0.2%, a bit below estimates, and were 3.1% higher than one year ago.  Separately, Consumer Sentiment was unchanged at 97.5, matching forecast.  Mortgage rates improved by about 0.125% for the week.  No other key economic data will be released today.

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