Daily Market Update 9/26/13

Rates remained steady Thursday as mortgage-backed securities held onto recent gains.  Conventional 30-year fixed rates have now decreased by 3/8% over the past two weeks.  This morning, weekly Jobless Claims fell unexpectedly to 305,000, far below the consensus forecast of 330,000.  The computer glitches in two states that caused the data to be distorted in the prior two reports appears to have been corrected.  Pending Home Sales declined by 1.6%, a bit more than expected.  Stocks moved higher.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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