Rates Down On Strong Industrial Production

Rates were up today on stock market strength and strong industrial production data. Mortgage rates will increase by .25 to price. The Consumer Price Index was released today without any big surprises, meeting forecasted levels. However, March Housing starts posted a larger than expected decline, the lowest level of housing starts in 17 years. This is good news for rates as it shows continued weakness in housing. However, the March Industrial Production report trumped the housing data. Industrial Production showed a .3% rise in output, stronger than expected. This is a sign of strength in the production sector of the economy, and is bad news for rates.

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National Rates

Loan Type Today
30 Year Fixed   5.71
15 Year Fixed   5.54
5/1 Adjustable   5.85

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