Daily Market Update 4/30/09

Mortgage rates inched higher again Thursday following the release of stronger than expected economic data. Weekly Jobless Claims came in below forecast, while the Chicago Purchasing Managers Index rose last month to a reading of 40.1, well above the consensus estimate of 35. Mortgage-backed securities have also been hurt this week by the rise in stock prices. The Institute for Supply Management manufacturing index will be released tomorrow.

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