Daily Market Update 2/26/10

Mortgage rates inched lower Friday on mixed economic data. The Chicago Purchasing Managers Index rose to 62.6, above forecast, while the first revision to fourth quarter GDP showed a small increase to 5.9%. January Existing Home Sales fell sharply to a 5.05 million annual rate, well below expectations. February Consumer Sentiment declined. Stocks moved modestly higher. Non-Farm Payrolls, the most closely watched report of the month, will be released next Friday. No other data will come out today.

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