Daily Market Update 11/16/16

Mortgage rates inched lower in extremely volatile trading.  In economic news, the October Producer Price Index (PPI) was unchanged, below the consensus forecast for an increase of 0.3%.  Core PPI, which excludes volatile food and energy components, fell 0.2%, well below an expected increase of 0.2%.  Separately, Industrial Production was flat, a bit below expectations.  The National Association of Home Builders housing market index rose to 63, matching forecast.  Readings above 50 indicate more positive than negative views of the housing market.  No other key data will be released today.

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