Daily Market Update 11/10/10

Rates stabilized Wednesday following Tuesday’s late sell off of mortgage-backed securities. Weekly Jobless Claims fell to 435,000, below the consensus forecast of 450,000. October Import Prices excluding oil rose 0.3%, the same as last month. The September Trade Deficit came in at $44 billion, close to expectations. The Mortgage Bankers Association weekly purchase activity index and refinancing activity index both rose by 6%. Average reported 30-year fixed rates for the week were unchanged at 4.28%, not including fees. Results from today’s 30-year Treasury auction will be released at 1:00 PM. The market will be closed tomorrow for Veteran’s Day.

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