Daily Market Update 3/13/13

Mortgage rates held steady Wednesday following the release of stronger than expected economic data.  February Retail Sales rose 1.1%, far above forecast.  Some economists had expected the increased payroll tax and higher gas prices to slow sales activity, but today’s data contradicted that view.  Import Prices increased 1.1% in February, but were lower than one year ago.  Stocks were little changed.  Results from today’s 10-year Treasury auction will be released at 1:00 PM.

Leave a Reply

Your email address will not be published.

Back to top