Rates Up on Strong Retail Sales Data

Bonds were down this morning on the release of stronger than expected economic data. Rates will likely be higher by as much as .375 to price. April Retail Sales data shows a reading which matched forecasts, and excluding auto sales, exceeded forecasts. This adversely affected mortgage rates as signs of economic health are not good for rates. Tomorrow we'll see April's CPI (Consumer Price Index), which also will give us a sense of how robust the Consumer segment of the economy.

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National Rates

Loan Type Today
30 Year Fixed   6.05
15 Year Fixed   5.73
5/1 Adjustable   5.78

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