This entry was posted on Wednesday, November 14th, 2007 at 6:50 pm and is filed under Mortgage Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Sacramento Mortgage Rate Watch: PPI and October Retail Sales
October’s retail sales checked in at a 0.2% increase, slightly better than expected. But take out gasoline sales, and retail sales rose only 0.1%. This wasn’t enough to depress the market, but it was enough to cause Joel Naroff of Naroff Economic Advisors Inc. to quip,
“We could be getting increases in retail sales simply because people are directly depositing their checks into the gas pumps. That would not be healthy for the economy.”
Meanwhile, wholesale inflation for October were slightly lower than expected. Energy costs pulled the numbers down, but how long can that last. Here’s the full government report.
Not much change in mortgage rates today. Let’s see what the CPI does tomorrow…..
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