Daily Market Update 3/17/14

Rates inched higher Monday as a rally in stocks hurt mortgage-backed securities.  Stocks were boosted by news that the Crimean vote to secede from Ukraine did not result in violence or military action.  Today’s economic news was mixed.  February Industrial Production rose 0.6%, far above expectations.  The Empire State index increased to 5.6, a bit below forecast.  The National Association of Home Builders housing survey came in at 47.  Readings below 50 indicate more builders view conditions as “poor” than “good”.  No other key economic data will be released today.

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