Daily Market Update 3/23/12

Mortgage rates eased slightly on Friday, but finished about .125% higher for the week.  In economic news, New Homes Sales slipped by 1.6% to 313,000 annual units, below the consensus forecast of 320,000 units.  The median new home price rose to $233,700, a 6.2% increase from one year ago.  Next week’s key data affecting interest rates include Durable Goods Orders on Wednesday and the Core PCE price index on Friday.  Also next week, the Treasury will auction 2-, 5-, and 7-year notes over three days, beginning Tuesday.  No other key data will be released today.

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