Daily Market Update 4/30/15

Mortgage rates faced upward pressure Thursday as today’s economic data beat expectations.  Weekly Jobless Claims fell to 262,000, far below the consensus forecast of 290,000, to the lowest level in 15 years.  The March Core PCE price index, the Fed’s preferred measure of inflation, rose 0.1%, a bit less than expected, and was a tame 1.3% higher than one year ago.  The Chicago Purchasing Managers Index increased to 52.3.  Readings above 50.0 indicate expansion in manufacturing in the Midwest Region.  No other key data will be released today.

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