Mortgage Market Update 11/28/17

Mortgage rates inched lower Tuesday in quiet trading.  Jerome Powell, President Trump’s pick to replace Janet Yellen as Fed Chair, will face a Senate confirmation hearing today.  Powell, who is expected to be confirmed, is considered likely to maintain continuity with current Fed monetary policy.  In other news, Consumer Confidence jumped to 129.5, well above forecast.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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