MBS are down -7/32 (FNMA 30-yr 3.0 at 101.12), around 9/32 below morning levels, and near the low for the day. Unfavorable repricing was seen. Despite weakness in the Retail Sales data, investors sold MBS ahead of tomorrow’s Fed meeting. The March NAHB Housing Index showed that home builder confidence was flat at 58, below the consensus of 59. The Dow is up 20 points. Tomorrow, the Fed announcement will come out around 2:00 et, and Fed Chair Yellen’s press conference will begin around 2:30 et. No change in the federal funds rate is expected, but the comments from the Fed could have a significant impact. In addition, CPI, Housing Starts, and Industrial Production will be released.

About The Mortgage Update

I am a resident of St Charles Illinois and have been in the Mortgage Industry for 24 Years. I am also be heard on WYLL 1160 AM Chhristian Radio "The Mortgage Update with Terry & Dan". With relationships with the our Countries biggest lenders, it allows me to help you find the PERFECT Mortgage for your situation. From getting Pre-Approved to purchase your first home to helping you Qualify under wth NEW HARP 2.0 Guidelines (see HARP 2.0 tab).

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