Daily Market Update 11/25/09

Mortgage rates were unchanged Wednesday as investors shrugged off stronger than expected economic data. Weekly Jobless Claims fell to 466,000, well below the consensus forecast of 500,000, and the lowest level since September 2008. October Personal Income matched expectations with a 0.2% increase. New Home Sales rose to an annual rate of 430,000, well above forecast. Durable Goods Orders was the weakest report, falling -0.6%. The Treasury will auction 7-year notes at 1:00 PM. The mortgage-backed securities market will close early today at 2:00 PM et, and will reopen Friday.

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