Mortgage Market Update 3/28/18

Mortgage rates were little changed Wednesday following the release of stronger than expected economic data.  This morning, fourth quarter GDP was revised higher, indicating annual growth of 2.9%, up from earlier estimates of 2.5%.  Separately, the National Association of Realtors reported February Pending Home Sales rose 3.1% from January, beating expectations for an increase of 2.0%.  Sales fell 4.1% from February 2017.  Results of today’s 7-year Treasury auction will be released at 1:00 PM.

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