SUMMARY: All eyes are on the Fed as the FOMC will announce a likely 25 basis point increase to the federal funds rate, home prices climb for the fourth straight month despite home prices falling year-over-year, consumer confidence rises to a two-year high, and mortgage demand falls for the first time in three weeks...

NOTES:

• Home Prices Continue to Fall in May
• Consumer Confidence Jumps to Two-Year High
• Mortgage Demand Falls as Rates Stay Elevated
• BLOOMBERG: Who Wants to Keep Hiking Rates and Who Doesn’t? Breaking Down the Fed’s Views

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