Daily Market Update 4/30/08

Mortgage rates were unchanged Wednesday morning following the release of preliminary Gross Domestic Product figures and ahead of this afternoon’s policy decision by the Fed. First quarter GDP showed economic growth of 0.6%, matching fourth quarter figures for 2007, and largely in line with expectations. While basically flat, the economy may not technically be in recession, and is certainly showing more resiliency than some forecasters had predicted. All eyes are now on the Fed, whose announcement is scheduled for 2:15 PM.

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