Weekly Information 10/18

Mortgage interest rates were mostly flat on the week on mixed economic data. Economic reports better than expected included September Retail Sales, up 0.6% on expectations that they would be up 0.4%. The October New York Empire State Manufacturing Index was also better than expected, increasing to 15.73 on expectations that it would come in at 6.0. August Business Inventories increased more than expected as well. Economic reports weaker than expected included weekly jobless claims, which increased 13k on expectations that they would increase only 4k. The University of Michigan Consumer Sentiment Index was weaker than expected and the August Trade Deficit grew more than expected. Inflation data was tame. The September Consumer Price Index increased only 0.1%. Excluding the food and energy components, core CPI was unchanged.