Today’s economic statistical releases:

Last week, mortgage rates dropped, and the Fed announced a switch to longer term treasuries. This sparked a rush of refinancing, as well as new mortgage applications. The Mortgage Bankers Association reports that mortgage applications rose by 9.3%, led by a 11.2% rise in re-fis, and a 2.1% increase in purchases.

Durable goods order fell –0.1% last month, both overall and ex-transportation,  though they were still 12.3% higher than last year.

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Dale Franks
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