Price is stable and the trading range is narrowing before we get news from the Federal Reserve on Wednesday and the monthly Jobs Report looms on Friday.
Where will we go from here? The news of the week will likely be the catalyst now.
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| 3 Month Price Chart on Mortgage Bonds (FNMA 3.5% coupon) |
If we get an upward break from here we should see a little room to run higher and, subsequently, some lower mortgage rates for a few weeks.
Brett
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