Daily Market Update 4/28/08

Mortgage rates were mostly unchanged Monday in advance of Wednesday’s Fed meeting and Friday’s release of the April Employment Report. Other major economic news for the week include the initial report on first quarter Gross Domestic Product (GDP) to be released Wednesday and the Fed’s preferred inflation indicator, the Core PCE price index, scheduled for release Thursday. The Fed’s policy decision and each of these three reports have the potential to move the market significantly in what is likely to be a volatile week for interest rates.

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