Daily Market Update 10/14/09

Rates inched higher following stronger than expected Retail Sales data. September Retail Sales fell 1.5%, beating the consensus forecast of negative 2.0%. Stocks initially rallied, but have since turned lower, helping mortgage-backed securities (MBS) markets. Further improvement may result in favorable repricing of mortgage rates. The Fed will release minutes from last month’s FOMC meeting this afternoon at 2:00 PM.

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