| The KUIK Morning Market Report for Friday, June 13: | |||||||
| Markets are flat. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 4 | points | 16,739 | 6:59 AM | ||
| S&P500 | Up | 0.0% | percent | 1,931 | 0.67 | ||
| Nasdaq Composite | Up | 0.1% | percent | 4,303 | 5.70 | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.43 | Annual Yield | ||
| A senior Treasury Department official pushed back on the idea of privatizing Fannie Mae and Freddie Mac. In a speech today, Mary Miller, under secretary for domestic finance, told the National Housing Conference that much of the recent profits at the mortgage-buying giants have come from tax-related one-time gains and legal settlements as well as income from portfolios which are being wound down. | |||||||
| The Labor Department reports the producer price index fell a seasonally adjusted 0.2% after rising 0.6% in April and 0.5% in March. Economists expected a 0.1% gain. That eases concern that inflation pressure might be building in the economy but analysts have questioned the report because the government has a new way for calculating wholesale prices since last January when the report was overhauled. | |||||||
| The average rate for a 30-year fixed-rate mortgage rose to 4.20% in the week ended June 12 up from 4.14% last week, according to Freddie Ma. A year ago, the rate was 3.98%. The average rate for the 15-year fixed-rate mortgage increased to 3.31% up from 3.23%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/treasury-official-pushes-back-on-idea-to-privatize-fannie-freddie-2014-06-13 | |||||||
| http://www.marketwatch.com/story/producer-prices-retreat-in-may-after-two-strong-gains-2014-06-13 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-rises-to-420-2014-06-12-109104 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||