http://MikesDailyMarketReport.com: The CPI, or Consumer Price Index, rose 0.3% in January; however, the more closely watched Core CPI dropped from 1.6% to 1.4% YoY. The Fed would like to get this up closer to the 2.5% range they discussed earlier last year. Lastly, the Wholesale Inventories rose by 0.3% in December, which may bode well heading into the New Year. Stocks are pulling back a bit today, as previously, the indices were reaching daily new highs. Now, it appears to be cooling for a bit. MBS had a rollover, so the placement on the Chart doesn't reflect the true picture of where Mortgage Rates stand. They're currently Up 6 bps, off from earlier highs. Mortgage Rates will tend to look more like they did yesterday (Unchanged). Yields have slid down, to just under 1.14%.
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