Daily Market Update 4/17/14

Mortgage rates faced upward pressure Thursday following the release of stronger than expected economic data.  Weekly Jobless Claims rose to 304,000, below the consensus forecast of 310,000.  The Philly Fed Index, a survey of manufacturers in the Philadelphia region, jumped to 16.6, far above expectations.  Readings above zero indicate expansion in the manufacturing sector.  Mortgage-backed securities markets close at 2:00 PM today due to the Easter holiday and will reopen on Monday.  No other key economic data will be released today.

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