http://MikesDailyMarketReport.com: The CPI rose 0.8% in December (slightly higher than it's forecast of 0.7%) and brought it's YoY from 6.2% to 6.8%. The Core CPI (excludes food and energy) rose 0.5% and it's YoY went from 4.6% to 4.9%. Lastly, the Consumer Sentiment rose from 67.4 to 70.4 in December. People are feeling better during the Holidays ;) Both Stocks and MBS are shrugging off the Inflation data today, as they find it in the medium that will put more emphasis to next week's FOMC. They feel it was just "right" in terms of the Fed making any further adjustments to their planning. MBS is currently Up 9bps; however, it was up approximately 25bps when many Lenders came out with their ratesheets. Depending if this remains, there could be a reprice in the works. Currently, Mortgage Rates have shown an improvement with their pricing today. Yields have slid from 1.52% down to 1.47% today.
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