Daily Market Update 5/14/09

Mortgage rates held steady Thursday as today’s economic data caused little reaction in mortgage-backed securities markets. The April Producer Price Index rose 0.3%, while the more closely watched “core” rate, excluding food and energy components, rose 0.1%, in line with expectations. Weekly Jobless Claims jumped to 637,000, higher than forecast. Stocks moved modestly higher. No other economic data will be released today.

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