Daily Market Update 4/22/16

Rates faced upward pressure Friday ahead of next week’s Fed meeting.  No key economic data will be released today.  Next week the Fed will hold its periodic Federal Open Market Committee meeting to discuss monetary policy.  Most analysts do not expect a rate hike this month, but will be closely watching for clues about the timing of future increases.  A policy statement will be released on Wednesday afternoon.  Also next week, preliminary first quarter GDP figures will come out on Thursday.  Mortgage rates may experience higher than usual volatility over the next several days.

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