Daily Market Update 7/27/09

Mortgage rates inched higher Monday as investors await this week’s record auctions by the Treasury. Over $200 billion in short- and medium-term notes will be sold beginning tomorrow. In economic news, New Home Sales rose 11% in June to 384,000 units, beating the consensus forecast of 352,000. Prices fell 12% from June 2008. Stocks were mixed, the dollar lower. No other economic data will be released today.

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