Mortgage Market Update 5/15/19

Mortgage rates inched lower Wednesday following the release of weaker than expected retail sales data.  April Retail Sales fell 0.2%, below the consensus forecast for an increase of 0.2%.  Excluding the volatile auto component, Retail Sales rose 0.1%, well short of expectations for an increase of 0.7%.  Separately, the NAHB home builders sentiment index rose to 65, slightly above forecast.  Stocks moved sharply lower.  No other key data will be released today.

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