Daily Market Update 6/15/11

Rates held steady Wednesday as investors attempted to analyze newly released economic data.  This morning, The Consumer Price Index (CPI) rose 0.2%, above the consensus forecast of +0.1%.  The closely-watched “Core” rate, which excludes food and energy components, rose 0.3%, also above expectations.  May Industrial Production increased by 0.1%, close to forecast, but the Empire State index declined by 7.8%, far below an expected increase of 10%.  Stocks fell sharply.  The Mortgage Bankers Association weekly purchase activity index rose 4.5%, while the refinancing activity index increased by 16.5%.  Average reported 30-year fixed rates fell to 4.51%, not including fees.  No other key data will be released today.

Leave a Reply

Your email address will not be published.

Back to top