Daily Market Update 12/30/15

Rates inched higher Wednesday reflecting yesterday’s late decline in mortgage-backed securities.  This morning, the National Association of Realtors reported November Pending Home Sales fell 0.9%, well below the consensus forecast for an increase of 0.5%, and the third decrease in the past four months.  Unusually tight inventory remains a drag on home sales.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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