Daily Market Update 5/7/08

Rates were little changed this morning as first quarter Productivity rose a better than expected 2.2%. The National Association of Realtors reported a 1% decline in pending home sales for March from February, but a 20.1% decline from the same period last year. Oil prices continued rising above $122 a barrel and the Dollar strengthened. No other major economic reports are due out this week.

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