Daily Market Update 9/25/15

Rates inched higher Friday following yesterday’s speech by Fed Chairwoman Janet Yellen, indicating that she expects a rate hike by the Fed before year end.  She attempted to reassure investors that the U.S. economy is strong enough to justify an increase, causing stocks to rally and hurting mortgage-backed securities.  In today’s economic news, second quarter GDP was revised higher to 3.9%, beating expectations.  Consumer Sentiment rose to 87.2 from 85.7, close to forecast.  No other key economic data will be released today.

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