Rates moved lower Thursday reflecting a rally in mortgage-backed securities late Wednesday. In economic news, weekly Jobless Claims fell to 311,000, below the consensus forecast of 325,000. Fourth quarter GDP was revised higher to 2.6%, matching expectations, but down from a 4.1% pace during the third quarter. Pending Home Sales declined by 0.8% in February, the eighth consecutive monthly decrease. Year-over-year sales fell by 10.5%. Results from today’s 7-year Treasury auction will be released at 1:00 PM.