Mortgage Market Update 3/13/18

Rates were little changed Tuesday in quiet trading as newly released inflation data matched expectations.  This morning, the February Consumer Price Index (CPI) rose 0.2 and was 2.2% higher than one year ago.  Core CPI, which excludes volatile food and energy components, also increased 0.2% and was 1.8% higher year-over-year.  The Fed target rate for annual inflation is 2.0%, roughly in line with current levels.  Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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