Daily Market Update 3/1/10

Mortgage rates were little changed Monday on mixed economic data. The Institute for Supply Management manufacturing index fell to 56.5 last month, a bit more than expected. Readings above 50.0 indicate expansion. Consumer Spending rose 0.5% in January, slightly above forecast. The January Core PCE price index, the Fed’s preferred measure of inflation, rose at a tame 1.4% annual rate. Construction Spending fell 0.6%. Stocks moved higher. No other data will be released today.

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