March 29, 2017
Strong housing data lead the day's news as pending home sales shot 5.5 percent higher to indicate strength for early spring resales. And the purchase index of the Mortgage Bankers report posted a solid weekly gain with mortgage rates down very sharply in the latest week, to an average 4.33 percent for conforming 30-year mortgages.
Stocks were narrowly mixed with the Dow dipping 0.2 percent to 20,659. A draw in product inventories helped give a more than $1 lift to oil which is back near $49.50. Demand for Treasuries moved higher with the 10-year yield down 4 basis points to 2.38 percent.