Daily Market Update 10/16/14

Rates inched higher Thursday in volatile trading as mortgage-backed securities gave back a portion of recent gains late yesterday.  Stocks again moved sharply lower on growing concerns over the economic slowdown in Europe and the Ebola virus.  In economic news, weekly Jobless Claims fell to 264,000, far below the consensus forecast of 290,000, and to the lowest level in 14 years.  Industrial Production rose 1.0%, beating expectations.  The National Association of Home Builders Housing Index fell to 54 from 59.  Readings above 50 indicate more positive than negative builder sentiment.  No other key data will be released today.

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