Daily Market Update 3/28/14

Mortgage rates were little changed Friday in quiet trading as all newly released economic data matched expectations.  This morning, the February Core PCE price index, the Fed’s preferred measure of inflation, increased 0.1%, and was a tame 1.1% higher than one year ago.  Inflation remains well below the Fed target rate of 2.0%.  Personal Income rose 0.3%.  Consumer Sentiment increased slightly to 80.0.  For the week, mortgage rates fell .125%.  The main economic data coming out next week will be Friday’s release of the Employment Report for March.  No other key data will be released today.

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