MORTGAGE

Purchasing Managers Index

Updated 5/15/2013

Key economic statistics

	This week	Month ago	Year ago
Purchasing Managers Index	50.7	51.3	54.8

What it means: Released each month by the Institute for Supply Management, the ISM Purchasing Manager's Index is a gauge of conditions in the manufacturing sector of the economy.

How it's used: A reading above 50 indicates expansion in the manufacturing sector, while a reading below 50 indicates contraction. Changes in the manufacturing sector are a barometer for aggregate demand and can indicate a pickup or slowdown in overall economic conditions.

Back to key economic statistics page

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Mortgage Overnight Averages

Product	Rate	+/-	Last week
30 yr fixed mtg	3.65%		3.65%
15 yr fixed mtg	2.80%		2.78%
5/1 ARM	2.59%		2.60%
30 yr fixed mtg refi	3.64%		3.63%

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