Daily Market Update 7/17/15

Rates were little changed Friday as 30-year fixed rates have moved about 0.125% lower in the past week.  In economic news, June Housing Starts jumped by 10% to an annual rate of 1,125,000, the second highest level since 2007.  All of the increase was in the multi-family segment, however, while single-family starts declined slightly.  The June Consumer Price Index (CPI) rose 0.3%, matching forecast, and was 0.1% higher than one year ago.  Core CPI, which excludes volatile food and energy components, increased 0.2% and was 1.8% higher year-over-year.  Consumer Sentiment declined unexpectedly to 93.3.  A reading of 97.0 had been expected.  No other key data will be released today.

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