Daily Market Update 8/16/11

Mortgage rates held steady Tuesday as the impact of stronger than expected economic data was offset by weakness in stock markets.  July Housing Starts fell 1.5% to an annual rate of 604,000 units, in line with expectations.  Industrial Production rose 0.9%, above the consensus forecast of +0.5%, to the fastest pace in seven months.  European officials are meeting to discuss support for European banks.  No other key data will be released today.