Daily Market Update 2/27/13

Mortgage rates inched lower Wednesday in volatile trading.  Durable Goods Orders declined by 5.2% last month, a bit more than expected.  Pending Home Sales jumped 4.5%, well above expectations, to the highest level since April 2010.  Stocks moved higher.  Federal Reserve Chairman Ben Bernanke will testify before Congress about current monetary policy for a second day.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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