Market Snapshot

Mortgage Bonds continue to trade in a sideways range above a floor of support at the 25-Day Moving Average. Stocks, on the other hand, have rallied several days in a row, but appear stalled at a ceiling of resistance at their own 25-Day Moving Average.

In the news today, Housing Starts for February came in better than expected. This was the first increase in 8 months and is due in large part to an 82% increase in the construction of apartment buildings.

Today, the Fed kicks off its two-day policy meeting, which will conclude with a rate and policy statement tomorrow afternoon.

 

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
Direct: (209) 404-2200
Fax: (209) 254-7142