Industry News
Mortgage Industry News
MBS Markets Rise
11/17/2010
It has been a volatile morning. Weaker than expected economic data lifted MBS markets. October CPI rose 0.2% from September, below the consensus forecast of 0.4%, and increased at a 1.2% annual rate. Core CPI was unchanged, compared to a consensus of 0.1%, and was 0.6% higher than one year ago, a record low reading. October Housing Starts fell 12% to 519K, below the consensus forecast of 600K, and the lowest level since April 2009. Building Permits, a leading indicator, increased slightly. China’s government announced food subsidies for the poor to offset rapid inflation, and further measures may be seen soon. The Dow is down 20 points.
