Daily Market Update 4/24/12

Mortgage rates were little changed Tuesday as the Fed began its two-day FOMC meeting.  In economic news, Consumer Confidence slipped to 69.2, slightly below forecast.  New Home Sales declined to 328,000 annual units in March, but February figures were revised higher.  The February S&P Case-Shiller 20-city home price index showed an annual decline of 3.5%, as average home prices fell to their lowest levels since 2002.  Results from today’s 2-year Treasury auction will be released at 1:00 PM.  The Fed announcement will come out tomorrow afternoon.

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