Wednesday, September 15, 2010

Market commentary

U.S. industrial output rose 0.2% in August, a slower pace that had been forecast. And the mortgage applications index declined 8.9% in the week ended September 10 and interest rates rose slightly from record lows.

The reaction in the markets is fairly muted with U.S. stock indices slightly higher and bond prices falling. Pricing for mortgage loans is flat to worse by .125%.

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