Daily Market Update 12/16/11

Mortgage rates were little changed Friday as new inflation data came in close to expectations.  The November Consumer Price Index (CPI) was unchanged, below the consensus forecast of +0.1%, and was 3.4% higher than one year ago.  Core CPI, which excludes volatile food and energy components, rose by 0.2%, a bit more than expected.  Core CPI has been steadily climbing from the lows seen late last year.  Next week we will get a picture of recent real estate sales activity.  November Housing Starts will come out on Tuesday, Existing Home Sales on Wednesday, and New Home Sales on Friday.  Durable Goods Orders will also be released on Friday.  No other key data will be released today.

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