Daily Market Update 8/19/11

Mortgage rates moved higher Friday after hitting 50-year lows yesterday.  Investors are expressing concerns that the Fed’s pledge to hold short-term rates near zero until mid-2013 risks an inflationary surge once the economy begins to improve.  Also, some lenders have begun increasing margins to slow refinancing volume due to capacity limitations.  No key economic data will be released today.  Next week, New Home Sales will come out on Tuesday, Durable Goods Orders on Wednesday, and revised second quarter GDP figures on Friday.

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