Daily Market Update 3/27/12

Mortgage rates inched lower Tuesday.  Mortgage-backed securities have now recovered about half of the losses experienced since the last Fed meeting on March 13th.  This morning, the S&P/Case-Shiller 20-city home price index reported a decline of 3.9% from one year ago.  Consumer Confidence fell to 70.2, a bit less than expected.  Results from today’s 2-year Treasury auction will be released at 1:00 PM.

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