Daily Market Update 7/12/11

Mortgage rates were little changed Tuesday.  In economic news, the May Trade Deficit increased to $50.2 billion, well above the consensus forecast of $44.0 billion, and to the highest level since October 2008.  Minutes from last month's FOMC meeting of the Fed will be released at 2:00 PM.  Results from today's $32 billion 3-year Treasury auction will be released at 1:00.