Daily Market Update 7/17/09

Rates remained little changed Friday in the wake of better-than-expected housing data. June Housing Starts rose 4% to the highest level in seven months. Building Permits, a leading indicator, jumped 9%. Rates have now moved about 1/4% higher over the past week. Stocks turned marginally lower, oil prices higher. Next week will be relatively quiet in terms of new economic data. Existing Home Sales for June will be released Thursday.