Prices Slightly Higher than Market Expected
Mortgage News from Quicken Loans
The U.S. Producer Price Index rose by a larger-than-expected 0.5 percent in June, the Labor Department reported today.
"Today's PPI release came in near expectations, and while the headline number was a bit higher than anticipated, there were some hopeful signs of price moderation in the earlier stages of production," said Bob Walters, chief economist of Quicken Loans, the nation's largest online lender. "All in all, the release wasn't a market mover, and all eyes will now focus on PPI's bigger brother, the Consumer Price Index, which is released tomorrow."
This article is reprinted by permission from Quicken Loans © 2006 Quicken Loans Inc. All rights reserved.
Find more mortgage related news! View all our mortgage news.
