Daily Market Update 9/29/09

Mortgage rates held steady Tuesday on mixed economic news. The S&P/Case-Shiller home price index rose for the third straight month in July, while the year-over-year decline was less than expected. The Conference Board reported Consumer Confidence fell last month as job losses mounted. A small increase had been forecast. The remainder of the week may be volatile for mortgage-backed securities markets. The Chicago Purchasing Manager’s Index will be released Wednesday, the Institute for Supply Management manufacturing index Thursday, and September’s Non-farm Payrolls report Friday. No other economic data will be released today.

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