Daily Market Update 4/30/13

Mortgage rates were little changed Tuesday as the Federal Open Market Committee of the Fed began its two day meeting to discuss monetary policy.  In economic news, the Chicago Purchasing Managers Index fell unexpectedly to 49.0.  Readings below 50.0 indicate contraction in manufacturing in the Midwest region.  The Case-Shiller 20-city home price index increased 9.3% from one year ago, the largest annual increase since 2006.  Consumer Confidence jumped to 68.1, well above forecast.  Eurozone unemployment rose to 12.1%, a record high.  Stocks moved lower.  No other key data will be released today.

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