Mortgage rates were little changed Tuesday as the Fed began its Federal Open Market Committee meeting to discuss monetary policy. In economic news, the May Producer Price Index (PPI) was unchanged, matching expectations, and was 2.4% higher than one year ago. The more closely watched Core PPI, which excludes volatile food and energy components, increased 0.3%, slightly above forecast, and was 2.1% higher year-over-year. The Fed will issue a policy statement tomorrow at 2:00 PM. Also tomorrow, May Retail Sales data and the Consumer Price Index will be released. The market may be volatile over the next two days.