Daily Market Update 7/24/14

Mortgage rates faced upward pressure Thursday following the release of stronger than expected employment data.  This morning, weekly Jobless Claims fell unexpectedly to 284,000, the lowest level since February 2006.  The positive news was partially offset by a sharp decline in New Home Sales, which fell to 406,000 annual units.  An increase to 475,000 had been forecast.  No other key data will be released today.

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