Daily Market Update 11/19/14

Rates faced upward pressure Wednesday following the release of mixed housing data.  October Housing Starts fell 3% to an annual rate of 1,009,000 units, below the consensus forecast of 1,025,000.  The weakness was in multi-family units however, which tend to be volatile from month-to-month.  Sincle-family units rose 4% to the highest level since last November.  Building Permits, a leading indicator, rose 5%, exceeding expectations.  Detailed Minutes from last month’s Fed meeting will be released at 2:00 PM.

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