Mortgage Market Update 11/30/17

Rates moved higher Thursday as a rally in stocks hurt mortgage-backed securities.  In economic news, the October core PCE price index, one of the Fed’s preferred measures of inflation, rose 0.2% and was 1.4% higher than one year ago.  Personal Income increased 0.4% in October, slightly above expectations.  Weekly Jobless Claims came in at 238,000, close to forecast.  Stocks jumped on news that GOP tax reform had gained support in the Senate, increasing the likelihood of passage.  No other key data will be released today.

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