Mortgage Market Update 12/11/17

Mortgage rates held steady ahead of this week’s Fed meeting.  The Federal Open Market Committee of the Fed will meet on Wednesday to discuss monetary policy and release a policy statement at 2:00 PM.  It is widely expected that the Fed will raise short-term rates by 0.25%.  Investors will be watching closely for clues about the timing of future increases.  In economic news, the Job Openings and Labor Turnover Survey, or JOLTS, reported a decline to 6.00 million job opening in November, below the consensus forecast for an increase to 6.10 million.  Results from today’s 10-year Treasury auction will be released at 1:00 PM.

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