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Mortgage Market Update 1/10/2020

Mortgage rates inched lower Friday following the release of weaker than expected employment data. The economy added 145,000 jobs in December, below the consensus forecast of 160,000. The unemployment rate remained at 3.5%. Average hourly earnings fell short of expectations, rising 0.1% for the month and 2.9% over the past year, down from 3.1% last month. The monthly increase was the smallest since July 2018. No other key data will be released today.

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