Market Update 7/27/2016
MBS are up +1/32 (FNMA 30-yr 3.0 at 103.15), around 1/32 higher than yesterday at this time.
This morning, June Durable Orders fell 4.0% from May, much weaker than the consensus for a decline of just 1.0%. There was little reaction, though, as investors are waiting for today’s Fed announcement. The Dow is up 50 points. Pending Home Sales will be released at 10:00 et. The Fed meeting announcement will be released around 2:00 et. No change in rates is expected, but it could be a market moving event.