Daily Market Update 9/17/13

Mortgage rates were little changed Tuesday as the Federal Open Market Committee of the Federal Reserve began its two-day meeting to discuss monetary policy.  In economic news, the August Consumer Price Index (CPI) rose 0.1%, a bit less than expected, and was 1.5% higher than one year ago.  Core CPI, which excludes volatile food and energy components, also increased 0.1%, and was a tame 1.8% higher year-over-year.  There was little market reaction to the data, as investors await tomorrow’s Fed statement, expected around 2:15 PM.  No other key data will be released today.

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