Daily Market Update 8/28/14

Mortgage rates edges lower Thursday as concerns about slowing economic conditions in Europe overshadowed better than expected economic data in the U.S.  This morning, second quarter GDP was revised slightly higher to 4.2% from 4.0%.  Weekly Jobless claims came in at 298,000, close to expectations.  Pending Homes Sales rose by 3.3% in July, beating forecast, but were 2.1% lower year-over-year.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

Back to top