A light news week but an important one.

On Wednesday the Fed announced that they would leave the Fed Funds rate the same. That was expected news, however the markets released a sigh of relief when they also said that they planned to raise the rate only one more time this year (subject to change with economic data that would persuade them another way).

On Friday the February existing home sales data came out, and February existing homes (as opposed to new construction  homes) were up 11.8%, wow! Luckily this data point is not a bond market influencer like the CPI – so the mortgage rates remained the same.

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