Mortgage rates ticked lower Thursday following the release of weaker than expected economic data. This morning, weekly Jobless Claims jumped to 360,000, the highest level in six weeks, reversing a recent trend lower. The April Consumer Price Index (CPI) fell 0.4%, below the consensus of -0.3%, and was a tame 1.1% higher than one year ago. Core CPI, which excludes volatile food and energy components, increased 0.1%, a bit below expectations. April Housing Starts declined 17% to 853,000 annual units, far below forecast, however Building Permits rose by 14%, much higher than expected. The Philly Fed index, a survey of manufacturers in the region, came in at -5.2. Readings below zero indicate contraction in the manufacturing sector. No other key data will be released today.