Mortgage Market Update 1/17/18

Mortgage rates faced upward pressure Wednesday as stocks moved higher.  In economic news, December Industrial Production rose 0.9%, above the consensus forecast of 0.5%, but November results were revised lower.  The January National Association of Home Builders housing index showed that home builder confidence declined from an 18-year high of 74 to 72, in line with expectations.  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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