Daily Market Update 10/29/14

Mortgage rates inched higher Wednesday as investors await this afternoon’s Fed announcement.  The Federal Open Market Committee (FOMC) of the Federal Reserve will complete its two-day meeting at about 2:00 PM and issue a monetary policy statement.  It is expected the Fed will confirm an end to its purchases of U.S. Treasurys and mortgage-backed securities, a stimulus plan known as “quantitative easing”.  No key economic data will be released today.

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