Daily Market Update 9/9/16

Mortgage rates faced upward pressure Friday following comments from Boston Fed President Eric Rosengren.  Rosengren has long supported loose monetary policy, but today said that “a reasonable case can be made” for raising the Federal Funds Rate.  Investor   expectations for a rate hike at the September 21 Fed meeting jumped to 30% from 18% yesterday.  Stocks moved sharply lower.  No key economic data will be released today.

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