Daily Market Update 3/18/09

Mortgage rates inched lower Wednesday in spite of Consumer Price Index data showing a higher rate of inflation in February than forecast. The closely watched “core” rate rose at a 1.8% annual rate. In general, however, inflation is not a major concern for investors in the near term. Attention is now on this afternoon’s announcement from the Federal Open Market Committee meeting. No rate change is expected, but the Fed may announce additional programs to boost the economy. Potential actions include an expansion of the mortgage-backed securities purchase program or the purchase of long-term Treasurys. Stocks and the dollar moved lower. No other economic data will be released today.

Leave a Reply

Your email address will not be published.

Back to top