Daily Market Update 4/26/12

Mortgage rates inched lower Thursday as weaker than expected European economic data boosted mortgage-backed securities.  In the US, weekly Jobless Claims came in at 388,000, above the consensus forecast of 375,000.  Pending Home Sales jumped 4.1% in March and was 12.8% higher than one year ago, providing further evidence of gradual stabilization in the real estate market.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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