Daily Market Update 2/15/17

Mortgage rates moved higher Wednesday following the release of stronger than expected economic data.  January Retail Sales rose 0.4%, well above forecast.  Excluding the volatile auto component, Retail Sales jumped 0.8%.  The January Consumer Price Index (CPI) rose 0.6%, above the consensus for an increase of 0.3%.  Core CPI, which excludes food and energy components, increased 0.3%, and was 2.3% higher than one year ago.  January Industrial Production fell 0.3%, below expectations.  The National Association of Home Builders housing market index declined unexpectedly to 65 in January.  Readings above 50 indicate more builders view market conditions as positive than negative.  Fed Chairwoman Janet Yellen will deliver her second day of testimony to Congress this morning.  No other key data will be released today.

Back to top