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The Mortgage Bankers’ Association purchase index was released at 7:00 AM EST, and there was a week to week decrease of 5.0% in the Purchase Index and a week to week decrease of 16.5% in the Refinance Index as interest rates moved up significantly from near record lows.

At 8:30 AM EST, the Consumer Price Index report for October will be released.  The consensus is that CPI increased by 0.4% last month, with a 0.1% increase in CPI when food and energy are removed.

Also at 8:30 AM EST, the Housing Starts report for October will be released.  The consensus is that construction on 590,000 new homes were started last month, which would be a decrease of 20,000 from September.

At 10:30 AM EST, the weekly Energy Information Administration Petroleum Status Report will be released, giving investors an update on oil inventories in the United States.

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