Daily Market Update 7/25/13

Mortgage rates inched higher Thursday on stronger than expected economic data.  June Durable Goods Orders jumped 4.2%, well above the consensus forecast of 2.0%.  Most of the increase came from aircraft orders, however, which are extremely volatile month-to-month.  Weekly Jobless Claims rose to 343,000, slightly more than expected.  Stocks moved lower.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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