It’s Fed day once again! While the Fed probably won’t move rates at all, their Policy Statement could generate some excitement this afternoon. Under particular scrutiny will be any comments on the economy, the stimulus package effects, the banking sector, or mark-to-market.
In other news, the Consumer Price Index–which measures inflation–came in slightly hotter than anticipated. Overall, however, the numbers were tolerable and had no impact on Mortgage Bond prices this morning.
Currently, Mortgage Bonds continue to trade in a tight range, with support at the 25-day Moving Average keeping prices near current levels.
“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
