Daily Market Update 7/12/12

Mortgage rates were little changed Thursday.  This morning, weekly Jobless Claims fell sharply to 350,000, well below forecast, to the lowest level since March 2008.  Investors showed little reaction to the data due to possible distortions resulting from the July 4th holiday.  June Import Prices declined 2.7%, mostly due to lower oil prices.  Stocks moved lower.  Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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