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MORTGAGE MARKET UPDATE FOR THE WEEK ENDED MARCH 23, 2018

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This week the Federal Reserve announced its decision to increase the Federal Funds rate by .25%.  The other major economic news this week was the announcement of new Tariff policies directed at China.  The new Tariff policy led to large declines and losses in the stock market this week.  However, mortgage interest rates were largely unaffected by both events and were unchanged from last week.

Next week the following economic events will occur and economic news will be released:

  1. Pending Home Sales will be released on Wednesday;
  2. The Core PCE Price Index will be released on Thursday;
  3. There will be Treasury Auctions on Tuesday and Wednesday; and
  4. The mortgage markets will close early on Thursday in observance of Good Friday.