Daily Market Update 7/17/14

Mortgage rates were little changed Thursday.  In economic news, June Housing Starts fell by 9% to an annual rate of 893,000, far below the consensus forecast of 1,025,000, to the lowest level since last September.  Building Permits, a leading indicator, also fell short of expectations.  Weekly Jobless Claims declined to 302,000, below the consensus of 310,000.  The Philly Fed Index, a survey of manufacturers in the region, rose to 23.9, beating expectations.  Stocks moved lower.  No other key data will be released today.

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