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Market Commentary

Updated on February 24, 2017 10:52:26 AM EST

There were two 10:00 AM ET economic reports posted this morning. The Commerce Department announced that sales of newly constructed homes rose 3.7% last month, falling short of expectations. The fact we saw an increase in sales indicates strength in the new home portion of the housing sector. However, since the increase was not as much as analysts were expecting to see, we can consider the data neutral to slightly favorable for mortgage rates.

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