March 15, 2023
7:37 AM : Retail Sales decreased by 0.4% in February, which was below estimates of a 0.3% loss. The Control Group, which strips out autos, gas and building materials, remained flat against expectations of a 0.5% gain. The Control Group's prior figure was revised higher from a gain of 2.6% to 2.8%.
7:44 AM : The Producer Price Index, which measures wholesale inflation, was reported for the month of March. The Headline PPI figure was down 0.1%, which was below expectations of a 0.3% gain. On a year over year basis PPI decreased by 1.1% from 5.7% to 4.6%, which was lower than the 5.4% estimate. Core PPI, which strips out food and energy prices, was unchanged month over month, which was lower than expectations of a 0.4% gain. Year over year Core PPI decreased by 1% to 4.4%, which was below
8:16 AM the 10 year treasury is 3.4510% down 22 basis points from yesterday’s Close. The 10 year is the best indicator for mortgage rate trends.
Yesterday’s Close for the 10 year treasury 3.668% 3/14/23
Year to date high for the 10 year treasury 4.062% 3/02/23.
Year to date low for the 10 year treasury 3.368% 1/18/23.
For updates, mortgage calculators and online application go to: https://www.johnmarbury.com/
Feel free to call or text John Marbury at 205-266-5669, or email john.marbury@colonybank.com.
John Marbury
Mortgage Banker
Residential Lending
Cell 205-266-5669
2100 Southbridge Parkway, Suite 650
Birmingham AL 35209
john.marbury@colonybank.com
NMLS# 740833
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