Daily Market Update 8/26/09

Mortgage rates were little changed Wednesday. July Durable Goods Orders rose 4.9%, higher than the consensus forecast of 3.2%, however the most closely watched components fell slightly. New Home Sales surged 9.6% in July to the highest level in 10 months, providing further evidence the housing market has begun to stabilize. There will be a 5-year Treasury auction at 1:00 PM.