Daily Market Update 9/30/16

Mortgage rates were little changed Friday as stocks moved higher.  In economic news, the August Core PCE price index, the  Fed’s preferred measure of inflation, rose 0.2%, matching expectations, and was 1.7% higher than one year ago.  Personal Income also rose 0.2%, in line with forecast.  The Chicago Purchasing Managers Index rose to 54.2, a bit higher than expected.  Readings above 50.0 indicate expansion in manufacturing in the Midwest region.  Consumer Sentiment increased to 91.2, beating the consensus forecast of 90.0.  No other key data will be released today.

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