Daily Market Update 8/26/08

Mortgage rates improved slightly Tuesday ahead of this afternoon’s release of the minutes from the Fed’s most recent FOMC meeting. Traders will be watching closely for clues on central bank policy in coming months. New Home Sales increased 2.4% in July leading some analyst to conclude we may be nearing the bottom of the real estate market. Stocks moved modestly higher as the dollar hit 6-month highs against the euro.

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