Daily Market Update 5/19/08

Rates were little changed Monday as leading indicators for April rose 0.1% as expected. The biggest economic report of the week will be tomorrow’s Producer Price Index (PPI) data for April. The Existing Home Sales report is due out Friday, a day when the mortgage market will close at noon due to the Memorial Day Holiday. Expect rates to move slightly higher Friday as traders square positions ahead of the three-day weekend.

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