Daily Market Update 7/26/10

Mortgage rates inched higher Monday on stronger than expected economic data. New Home Sales rose 24% in June to an annualized rate of 330,000 units, 20,000 above forecast. Stocks moved higher. Key economic reports due out this week include Durable Goods Orders on Wednesday and advanced second quarter GDP and the Chicago Purchasing Managers Index on Friday. The Treasury will also be holding 2-, 5-, and 7-year note auctions over three days beginning Tuesday. No other data will be released today.

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