Daily Market Update 11/12/09

Mortgage rates held steady Thursday as weekly Jobless Claims came in close to expectations. Today’s Treasury auction of 30-year bonds drew weak demand, but mortgage-backed securities markets showed little reaction. The Mortgage Bankers Association weekly purchase activity index fell by 12%, to the lowest level since December 2000. No major economic data will be released until next week, beginning Monday with October Retail Sales, followed by the Producer Price Index (PPI) and Industrial Production Tuesday, and the Consumer Price Index (CPI) Wednesday.

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