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Mortgage Market Update 9/12/18

Rates were little changed Wednesday as mortgage-backed securities recovered from yesterday’s late losses.  This morning, the August Producer Price Index (PPI) declined by 0.1%, well below an expected increase of 0.2%.  Core PPI, which excludes volatile food and energy components, also fell 0.1%, and was 2.3% higher than one year ago.  Results from today’s 10-year Treasury auction will be released at 1:00 PM.  The Fed will release its Beige Book, a periodic survey of economic activity by the 12 regional Federal Reserve Banks, at 2:00 PM.

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