Long-term mortgage rates moved down slightly last week as some of the recent optimism regarding the economy waned.
While industrial output increased a solid 0.6%, the increase was due to utility output related to the frigid weather gripping much of the nation.
Retail sales dropped by 0.3%, which was quite shy of the 0.5% increase that analysts had forecast. Fortunately, both the Consumer Price Index’s headline and core numbers increased only a scant 0.1%.
For more information on the mortgage market and why ARM indices don't always move as expected, click here.
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