Daily Market Update 5/15/12

Mortgage rates held steady Tuesday as today’s economic data provided few surprises.  The April Consumer Price Index (CPI) was unchanged from March and was 2.3% higher than one year ago.  The Core CPI, which excludes food and energy components, rose 0.2%, matching expectations.  April Retail Sales increased 0.1%, slightly less than expected.  The Empire State index rose to 17.1, exceeding forecast.  Greek political leaders failed to establish a coalition government, leading to new elections.  No other data will be released today.

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