Daily Market Update 5/19/15

Rates moved higher Tuesday following the release of stronger than expected housing data.  This morning, April Housing Starts jumped 20% to 1,135,000 annual units, far above the consensus forecast of 1,030,000.  Building Permits rose by 10%, also beating expectations.  The data reflects a shortage of inventory that has been slowing progress in the housing recovery, therefore provides a positive sign going forward.  No other key data will be released today.

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