Daily Market Update 8/24/12

Rates were little changed Friday as mortgage-backed securities held onto recent gains.  Mortgage rates improved by about 0.25% for the week.  In economic news, July Durable Goods Orders rose by a stronger than expected 4.2%, but declined by 0.4% excluding volatile aircraft orders.  Next week will be relatively quiet in terms of key economic data, with the exception of Thursday’s Core PCE price index, the Fed’s preferred measure of inflation.  No other data will be released today.

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