FED DAY

MBS are up +3/32 (FNMA 30-yr 3.5 at 103.08), around 1/32 higher than yesterday at this time.

This morning, investors are waiting for the outcome of today’s Fed meeting. The Dow is down 10 points. Existing Home Sales will be released at 10:00 et. The Fed announcement will come out at 2:00 etand Fed Chair Yellen’s press conference will begin at 2:30. Investors widely expect the Fed to announce that it will soon begin to reduce the quantity of Treasury and mortgage securities on its balance sheet. Any information about the pace of future rate hikes might have a greater impact on MBS.

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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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