Mortgage Update July 29 2015

“The Fed’s monetary policy statement will be released at 2:00pm ET and where there is no chance of a rate hike at this meeting, the talks will center on whether or not the U.S. economy is ready for interest rate hikes in the near future. June Pending Home Sales will be released at 10am. At 1:00pm, the results from today’s $35B 5-Year Note will be released. This could shake things up before the Fed hits the wires. I am recommending floating headed into the Fed meeting, but sentiment can quickly reverse after the statement is released. If anything changes, I will get back to you.”

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