After a frenetic week last week ending with four economic reports on Friday. Producer pricing and consumer pricing indicating inflation was increasingand the Fed would raise rates. However, the core indices which exclude fuel and food rose very little coupled with retail sales continuing to bolster the overall economy, in spite of the continued housing slump. This led to a much needed correction in mortgage interest rates after the jump in yield in the beginning of last week. Should be a relatively quiet week with housing starts and building permits reporting on Tuesday. Thank you for the opportunity to serve you and your clients.
