Today’s Mortgage Rates Unchanged as CPI gives no Surprises
15 May 2007
Mortgage Rates dipped slightly today as the CPI report fell just short of expecations. Although the weaker than expected reading is good news for mortgage rates, it was not significant enough of a gap to cause the bond market to rally. Moreover, the critically important core data met forecasts exactly.
Tomorrow we will see April Housing Starts, measuring new home production as well as April’s Industrial Production Report. A smaller increase in industrial output would be good news for the bond market and mortgage rates.
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