Market Update 6/15/2016

MBS are up +1/32 (FNMA 30-yr 3.0 at 102.31), around 2/32 lower than yesterday at this time. Some unfavorable repricing was seen yesterday.

It has been a quiet morning ahead of today’s Fed meeting. The Dow is up 50 points. No more economic data will be released today. The Fed statement will be released around 2:00 et. Fed Chair Yellen’s press conference will begin around 2:30 et. No change in rates is expected, but investors will be looking for hints about the timing of future policy changes.

Today’s economic data caused little reaction. May Industrial Production fell 0.4% from April, below the consensus for a decline of just 0.2%. Weakness was seen in auto production. May PPI inflation was slightly higher than expected. The Empire State regional manufacturing index rose to 6.0, well above the consensus of -4.0

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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