Daily Market Update 8/12/10

Mortgage rates remained near record lows Thursday in volatile trading. This morning, weekly Jobless Claims rose unexpectedly to 484,000, providing further evidence of a slowing economy. Import Prices, excluding oil, fell 0.3%. Stocks moved lower. Freddie Mac reported record-low average 30-year fixed rates over the past week of 4.44% plus 0.7 points. Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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