Mortgage rates inched lower Friday following the release of weaker than expected economic data. March Retail Sales declined 0.4%, far below the consensus forecast of 0.0%. Since Retail Sales represent roughly 70% of economic activity, a downward trend would have significant impact on economic growth. The March Producer Price Index (PPI) fell 0.6% and was 1.1% higher than one year ago. Core PPI, which excludes volatile food and energy components, rose 0.2%, matching expectations. Consumer Sentiment fell sharply to 72.3 from 78.6. A reading of 78.0 had been expected. No other key economic data will be released today.