Daily Market Update 5/2/11

Mortgage rates were unchanged Monday as economic data was overshadowed by news of the death of Osama bin Laden.  Construction Spending rose a stronger than expected 1.4% in March.  An increase of 0.2% had been forecast.  The Institute for Supply Management manufacturing index fell to 60.4 in April, close to expectations.  No other key economic data will be released today.

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