Daily Market Update 12/9/16

Mortgage rates held steady Friday in quiet trading.  This morning, Consumer Sentiment jumped to 98.0, well above expectations.  No other data will be released today.  The Federal Open Market Committee of the Fed will hold a two day meeting next week to discuss monetary policy.  An increase of 1/4% in the Fed Funds rate is widely expected and has already been priced into mortgage rates.  Investors will be focusing on the policy statement that will be released at 2:00 PM on Wednesday for clues about future rate moves.

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