Mortgage Market Update 9/25/18

Rates inched higher Tuesday ahead of tomorrow’s Fed announcement.  The Federal Open Market Committee began a two-day meeting this morning to discuss monetary policy and will release a policy statement tomorrow at 2:00 PM, followed by a press conference by Fed Chair Jerome Powell at 2:30.  It is widely expected that the Fed will raise short-term interest rates by 0.25% this month and again in December.  In today’s economic news, Consumer Confidence jumped to 138.4, well above forecast, to the highest level in 18 years.  Results from today’s 5-year Treasury auction will be released at 1:00 PM.

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