Daily Market Update 6/24/09

Mortgage rates inched lower Thursday as weekly Jobless Claims rose to 627,000, above forecast. Final first quarter GDP was revised down to -5.5% from -5.7%. This afternoon’s Treasury auction of 7-year notes was met with strong demand, pushing mortgage-backed securities higher. Stocks rallied. Tomorrow’s economic data includes Personal Income, the core PCE Index, and Consumer Sentiment.

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