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Jon Allen

Morning Commentary with Stephen Casil

Tuesday, March 13, 2012 - Article by: Jon Allen - Lyons Mortgage Services, Inc. - Message

Good Morning!

Due to the two better than expected U.S. economic reports below, the 10 Year Treasury Yield rose to 2.08% today, leading to slightly higher mortgage rates.

- The February Retail Sales report beat market expectations this morning. Retail sales rose 1.1% in February (biggest gain in almost 6 months), while the financial markets only expected a 1.0% increase.

- January Business Inventory levels increased by 0.7%, while the financial markets only expected an increase of 0.6%.

- At 2:15 PM today, the Fed Interest Rate Decision is announced, so there might be some additional market movement around that time. Movement could primarily depend on future Fed market expectations.

Stephen Casil, VP - Secondary Market, Lyons Mortgage Services Inc.

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