Daily Market Update 6/16/10

Mortgage rates held steady Wednesday on mixed economic data. The Producer Price Index (PPI) fell 0.3% in May. Core PPI, which excludes food and energy components, rose 0.2%, but was a tame 1.3% higher than one year ago. May Housing Starts fell 10% to 593,000, below the consensus forecast of 655,000. Building Permits, a leading indicator, declined 6%. Industrial Production rose 1.2% in May, which was higher than expected. No other data will be released today.

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