Daily Market Update

Mortgage rates were little changed Monday as stocks rallied following the release of plans by the Treasury Department to buy troubled assets from banks. The Treasury will partner with private firms to purchase securities backed by sub-prime mortgages allowing banks to remove certain troubled assets from their books. In economic news, Existing Home Sales rose unexpectedly in February, driven by bargain prices, low mortgage rates, and the $8,000 first-time homebuyer tax credit. No other economic data will be released today.

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