MBS are up +3/32 (FNMA 30-yr 3.5 at 103.01), close to morning levels. It was another quiet session. The Dow is down 30 points. For the week, MBS rose about 14/32.
Looking ahead, the next Fed meeting will take place on Wednesday. No change in the federal funds rate is expected, but investors will be looking for guidance about future monetary policy. Before that, Existing Home Sales will be released on Monday and New Home Sales on Wednesday. Durable Orders, an important indicator of economic activity, will come out on Thursday. The first reading for second quarter GDP, the broadest measure of economic activity, will be released on Friday. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.