Daily Market Update 7/28/11

Mortgage rates held steady Thursday while uncertainty about debt ceiling negotiations continued to produce volatility in mortgage-backed securities’ markets.  Weekly Jobless Claims fell to 398,000, below forecast, and to the lowest level since early April.  June Pending Home Sales rose 2.4%, beating expectations.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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