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Jennifer Uranga

Mortgage Market News 6-15-2011

Wednesday, June 15, 2011 - Article by: Jennifer Uranga - Amerifirst Financial Inc. - Message

To recap economic news today, we had Consumer Price Index and Core Consumer Price Index come in at higher than expected levels as well as the year over year statistics were higher than last month which is usually a bond killer. The bond markets saving grace is that the NY State Empire index which is , according to's defenition," a seasonally-adjusted index that tracks the results of the Empire State Manufacturing Survey. The survey is distributed to roughly 175 manufacturing executives and asks questions intended to gauge both the current sentiment of the executives and their six-month outlook on the sector." came in dramatically lower than expected and Industrial production was slightly lower as well. That information sent the stock market spiraling downward and despite the bad inflation news, pushed the bond market higher. We still have 2 more days of crucial economic reports so hang on to your hats as this could be a wild ride!

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