Industrial Production and Capacity Utilization
Today’s only relevant economic data was June's Industrial Production data at 9:15 AM ET. It showed a 0.6% increase in output at U.S. factories, mines and utilities, slightly exceeding forecasts of a 0.5% increase. The larger than expected rise is technically bad news for bonds and mortgage rates. However, because this is only a moderately important report that showed a minimal variance, it has had little impact on today’s mortgage pricing.