Daily Market Update 5/12/17

Mortgage rates inched lower Friday as newly released economic data fell short of expectations.  This morning, April Retail Sales rose 0.4%, below the consensus forecast of 0.6%.  The Consumer Price Index (CPI) increased 0.2% and was 2.2% higher than one year ago.  Core CPI, which excludes volatile food and energy components, rose 0.1%, a bit less than expected, and was 1.9% higher year-over-year.  Consumer Sentiment increased to 97.7, slightly above forecast.  No other key data will be released today.

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