The following US economic statistics were announced today:

The MBA reports that mortgage applications rose 6.2% last week, with purchases up 1.0% and refinancings up 8.0%.

Export prices fell -0.7% in November, but are up 0.7% over last year. Import prices fell -0.9% for the month, and are down -1.6% Year-over-year.

The Fed announced after the FOMC meeting this afternoon that short-term interest rates would remain close to 0% unless unemployment declines to 6.5%. They also said that the $85 billion a month in bond buys would continue. Gold rose more than $6.00 immediately after the announcement. Crude oil futures rose as well.

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Dale Franks
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