Daily Market Update 5/14/08

Rates were little changed Wednesday, regaining ground given up late Tuesday. The April “Core” CPI rose at a 2.3% annual rate, slightly lower than expectations, indicating higher food and energy prices have not been passed through to the prices of other goods thus far. The Fed generally aims to keep Core CPI readings below 2.5%. Average 30-year fixed rates fell to 5.82% (with points) from 5.91% the prior week.

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