Daily Market Update 9/21/09

Mortgage rates were mostly unchanged Monday ahead of this week’s FOMC meeting. The Fed will begin their two day meeting tomorrow. While no rate change is expected, investors disagree on how and when the Fed will wrap up its purchases of mortgage-backed securities from Fannie Mae and Freddie Mac. Their decision could have a large impact on mortgage rates. In economic news, Leading Indicators rose for the fifth straight month, but came in slightly below expectations. No other data will be released today.

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