Daily Market Update

Mortgage rates were little changed Monday, as Treasurys continued to out-perform mortgage-backed securities. Industrial Production rose 1.3% for October, reflecting a resumption of production by oil refineries following Hurricanes Gustav and Ike. Fannie Mae announced plans to raise $2 billion this afternoon to refinance long-term debt. This is the first such sale since the government announced plans to rescue the mortgage giant and traders will be watching the auction results closely. Stocks moved lower.

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