Daily Market Update 1/26/12

Mortgage rates moved lower Thursday following yesterday’s Fed statement.  The Federal Reserve indicated it would likely keep the Fed Funds rate at extraordinarily low levels until at least 2014.  Today’s economic data was mixed.  Weekly Jobless Claims rose unexpectedly to 377,000.  Durable Goods Orders increased by 3.0%, beating forecast.  New Home Sales fell to 307,000, below expectations.  Leading Indicators rose by 0.4%, a bit less than expected.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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