Daily Market Update 10/18/17

Rates inched higher Wednesday as a rally in stocks hurt mortgage-backed securities.  This morning, September Housing Starts declined 5% to an annual rate of 1,127,000 units, well below the consensus forecast of 1,160,000.  Much of the shortfall was due to weakness in the south, which would suggest it was hurricane-related.  The Fed’s Beige Book, a survey of economic activity by the 12 regional Federal Reserve Banks, will be released at 2:00 PM.

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