Daily Market Update 9/18/17

Mortgage rates were little changed Monday in quiet trading.  This morning, the National Association of Home Builders builder sentiment index fell to 64, a bit lower than expected.  Readings above 50 indicate more positive than negative sentiment among home builders.  No other key data will be released today.  The Federal Open Market Committee of the Fed will begin its periodic two-day meeting to discuss monetary policy tomorrow.  A policy statement will be released on Wednesday at 2:00 PM.  While no rate changes are expected, investors will be closely watching for details about the Fed’s plans to reduce its holdings of U.S. Treasuries and mortgage-backed securities.  The market may be volatile over the next few days.

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