Daily Market Update 5/26/09

Mortgage rates were little changed Tuesday as Consumer Confidence rose to its highest level in nine months. Several key economic reports are due out this week including New and Existing Home Sales, Durable Goods Orders, Chicago Purchasing Managers Index and the ISM manufacturing index. In addition, the Treasury will auction $101 billion of 2-, 5-, and 7-year notes over the next three days. The mortgage-backed securities market may be volatile through the week.