Mortgage Market Update 11/1/17

Rates were little changed Wednesday ahead of this afternoon’s Fed announcement.  In today’s economic news, payrolls firm ADP estimated October private sector job growth of 235,000, above the consensus of 215,000.  The Institute for Supply Management manufacturing index fell to 58.7, a bit below expectations.  Readings above 50.0 indicate expansion in manufacturing.  Construction Spending rose 0.3%, beating forecast.  The Fed will wrap up its Federal Open Market Committee meeting this afternoon and release a policy statement at 2:00 PM.  No rate changes are expected.

Back to top