Mortgage pricing continues to trickle downward, putting upward pressure on interest rates. The 10 year Treasury Note has risen above all technical ceilings and has almost 1/2% to more to go before hitting the next one.
We’ll see CPI tomorrow and PPI on Wednesday. Both rose 0.1% last month and are expected to gain another 0.3% this time. Retail Sales lost -0.9% last month and Thursday’s report is expected to come in at 0.2%. The anticipation of more inflationary data is the reason interest rates are rising; we’ll wait and see what the actual reports show.
