East Bay Mortgage & Market Update for March 18th 2011 Economic News:  A fairly big week for economic data was partially overshadowed by the events in the Middle East as well as the catastrophe in Japan. Wednesday's Housing Starts announcement was weaker than expected with the sporadic Multi Family sector leading the downside. Both the Producer Price Index & the Consumer Price Index were higher with food & energy costs leading the way. There was positive news to end the week with the Industrial Production stats as well as the Philadelphia Fed Survey  pointing to continued strength in the manufacturing sector. Crude Oil, while dipping under the $100 per barrel price earlier in the week, ended the week at $101.62. Mortgage Markets:  The 10 Year Note closed trading at 3.268% as a volatile w... 03/18/2011