Daily Market Update 9/20/16

Mortgage rates held steady Tuesday as the Fed began its two-day meeting to discuss monetary policy.  The Fed will release a policy statement at 2:00 PM on Wednesday followed by a press conference by Fed Chairwoman Janet Yellen at 2:30.  Most investors do not expect a rate increase at this meeting, but voting members of the Open Market Committee appear to be divided on the issue.  In today’s economic news, August Housing Starts fell 6% to an annual rate of 1.14 million units, below the consensus forecast of 1.19 million.  No other key data will be released today.

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