Daily Market Update 6/25/13

Despite stronger than expected economic data, mortgage-backed securities were little changed Tuesday in another day of volatile trading.  This morning, the April S&P/Case-Shiller 20-city home price index rose a record 2.5% from March.  It was 12% higher than one year ago, which was the largest annual increase since 2006.  Durable Goods Orders rose 3.6%, beating expectations.  Consumer Confidence jumped to 81.4, far above forecast, to the highest reading since January 2008.  New Home Sales increased to 476,000 annual units, a bit higher than expected.  No other key data will be released today.

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