Daily Market Update 3/18/14

Mortgage rates were little changed Tuesday as a two-day meeting of the Federal Open Market Committee of the Fed got under way.  In economic news, the February Consumer Price Index (CPI) rose 0.1%, matching expectations, and was just 1.1% higher than one year ago.  Core CPI, which excludes volatile food and energy components, also increased 0.1%.  February Housing Starts declined to 907,000 annual units, close to forecast.  Building Permits jumped by a stronger than expected 8%.  Stocks moved higher.  The Fed will release its statement regarding monetary policy tomorrow at 2:00 PM.

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