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Mortgage Market Update 9/27/18

Rates were little changed Thursday following yesterday’s Fed announcement.  The Federal Reserve raised short-term rates by 0.25% Wednesday, as  expected.  In today’s economic news, the National Association of Realtors reported August Pending Home Sales fell 1.8%, below the consensus forecast for a decline of 0.5%, to the slowest pace since January.  Sales were 2.3% lower year-over-year.  Weekly Jobless Claims rose to 214,000, in line with expectations.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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