Daily Market Update 8/22/13

Mortgage rates inched higher Thursday reflecting market activity that occurred late yesterday following the release of Minutes from the July Fed meeting.  This morning, weekly Jobless Claims increased to 336,000, slightly above forecast.  Leading Indicators rose 0.6%, beating expectations.  The Federal Housing Finance Agency (FHFA) reported that average home prices increased nationally by 7.7% over the previous year ending June 30.  The report represents all homes financed through Fannie Mae and Freddie Mac.  No other key data will be released today.

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