Daily Market Update 8/19/15

Mortgage rates faced upward pressure Wednesday despite lower than expected inflation data.  This morning, the July Consumer Price Index (CPI) reportedly rose 0.1% and was a mere 0.2% higher than one year ago.  Core CPI, which excludes volatile food and energy components, also rose 0.1% in July, but increased 1.8% year-over-year, just below the Fed’s target rate for inflation of 2.0%.  Stock fell sharply.  Detailed Minutes from the July 29 Fed meeting will be released at 2:00 PM.

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