Daily Market Update 5/26/17

Mortgage rates inched lower Friday despite the release of stronger than expected economic data.  This morning, first quarter GDP was revised higher to 1.2%, above the consensus forecast of 0.8%.  April Durable Goods Orders fell 0.7%.  A decline of 1.5% had been expected.  Stocks were mixed.  Mortgage-backed securities markets will close at 2:00 PM today and remain closed until Tuesday in observance of Memorial Day.

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