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Mortgage Market Update 4/16/18

Rates inched higher Monday as a rally in stocks hurt mortgage-backed securities.  In economic news, March Retail Sales rose 0.6%, above the consensus forecast for an increase of 0.4%.  The National Association of Home Builders housing index showed that home builder confidence declined slightly in April to 69 from 70.  The Empire State regional manufacturing index came in below expectations.  No other key data will be released today.

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