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Lisa Mascaro Blog
The Weekly Brief
Brought to you by Brady Spangler of Axia Home Loans
April 18, 2016
      

Mortgage bonds are continuing to drift sideways in the wake of a mixed bag of recent economic news. Last week, the Empire State (NY Fed) Manufacturing Index and the unemployment numbers significantly beat market expectations, indicating strength in the US economy. However, the industrial output and capacity utilization reports were slightly worse than market expectations, indicating weakness in the economy. Add to this, the Fed's plan to purchase up to $2.1 billion in mortgage bonds today, which normally has a positive impact on bond prices. What should you do about this? Lock your rates to be safe, especially while bonds continue to trade near the upper end of their recent range.

SOURCE: CMPS Institute

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