Daily Market Update 3/28/13

Mortgage rates held steady in quiet trading Thursday following the release of weaker than expected economic data.  This morning, weekly Jobless Claims rose to 357,000, above the consensus forecast of 340,000.  Fourth quarter GDP was revised higher to 0.4%, just short of expectations.  The Chicago Purchasing Managers Index fell to 52.4.  Readings above 50.0 indicate expansion in Midwest manufacturing.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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