Daily Market Update 11/23/09

Mortgage rates were little changed Monday as stock prices surged on positive housing data. Existing Homes Sales rose 10.1% in October to the highest level since February 2007, easily beating forecast, as buyers rushed to take advantage of the $8,000 first-time homebuyer tax credit. The national median home price fell 7.1% from October 2008. Revised third quarter GDP figures and minutes from last month’s Fed meeting will be released tomorrow. Durable Goods Orders will come out Wednesday. No other data will be released today.

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