Industry News
Mortgage Industry News
Today’s Mortgage News
01/14/2011
Today was the big day for economic data this week, and MBS markets moved higher after the mixed results came out. December CPI rose 0.5% from November, above the consensus forecast of 0.4%, and the largest monthly increase since June 2009. CPI was still just 1.5% higher than one year ago, though. Core CPI, which excludes food and energy, rose 0.1% from last month, and was a low 0.8% higher than one year ago. December Retail Sales fell a little short of expectations, rising 0.6% from November. Retail Sales ex-autos increased 0.5%. December Industrial Production rose 0.8%, above the consensus forecast of 0.4%. Capacity Utilization increased to 76.0%, the highest level since August 2008. Overall, today’s data continued to show improving economic growth with low inflation. In addition, China tightened monetary policy to fight inflation.
