Daily Market Update 6/30/14

Mortgage rates inched higher Monday ahead of Thursday’s key Employment Report for June.  This morning, the National Association of Realtors reported that Pending Home Sales jumped by 6.1% in May, far exceeding expectations, but were 5.2% lower than one year ago.  The Chicago Purchasing Managers Index fell to 62.6, beating the consensus forecast of 61.0.  Readings above 50.0 indicate expansion in manufacturing in the Midwest region.  No other key data will be released today.

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