Daily Market Update 12/15/08

Mortgage rates were little changed Monday. Industrial Production slid 0.6% in November, less than consensus. Oil prices rose on expectations of an impending supply cut by OPEC. The dollar moved lower against the euro in anticipation of a rate cut by the Fed at tomorrow’s FOMC meeting. Traders are awaiting Tuesday’s Consumer Price Index for November, followed by the Fed announcement at 2:15 PM.

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