Daily Market Update 6/28/13

Mortgage rates faced upward pressure Friday in volatile trading.  Today is the last day of the quarter, when investment funds make final adjustments to their portfolios, increasing volatility.  In economic news, the Chicago Purchasing Managers Index fell to 51.6, well below forecast.  Readings above 50.0 indicate expansion in the Midwest manufacturing sector.  Consumer Sentiment rose to 84.1, beating expectations.  Stocks moved sharply lower.  No other key data will be released today.

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