Daily Market Update 9/15/17

Mortgage rates were little changed Friday despite the release of weaker than expected economic data, the London terror attack, and another missile test by North Korea.  This morning, August Retail Sales fell 0.2%, below the consensus forecast for an increase of 0.1%.  Excluding the volatile auto component, sales rose 0.2%, also below expectations.  August Industrial Production fell 0.9%.  An increase of 0.1% had been expected.  Investors have largely shrugged off the effects of the recent hurricanes on economic activity.  Areas that now appear weak due to the storms will later be boosted by rebuilding efforts, making it difficult to determine the net results over the longer term.  No other key data will be released today.

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