Daily Market Update 10/31/14

Mortgage rates held steady Friday as new economic data came in close to expectations.  This morning, the September Core PCE price index, a preferred measure of inflation by the Fed, rose 0.1% and was a tame 1.5% higher than one year ago, well below the Fed’s target level of 2.0%.  The Chicago Purchasing Managers Index, a survey of manufacturers in the Midwest region, jumped to 66.2, easily beating forecast.  Consumer Sentiment rose to 86.9, a bit higher than expected.  Stocks moved higher on news that Japan added more stimulus to boost its economy.  No other key data will be released today.

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