Daily Market Update 2/17/12

Mortgage rates inched higher Friday on renewed optimism that Greece will reach an agreement for a financial bailout package with the ECB.  In economic news, the January Consumer Price Index (CPI) rose 0.2% and was 2.9% higher than one year ago.  Core CPI, which excludes food and energy components, also rose 0.2%, above the consensus forecast of +0.1%.  Leading Indicators increased by 0.4%, close to expectations.  Mortgage-backed securities markets will be closed on Monday in observance of Presidents’ Day.  No other key data will be released today.

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