Daily Mortgage Update
March 16, 2010
The Fed will release its Interest Rate Decision and Monetary Policy Statement this afternoon. The Fed will likely leave the Fed Funds Rate unchanged, while acknowledging that the labor market continues to struggle and the overall economy is slow, but improving from worse levels.
In other news today, Housing Starts and Building Permits for February were both reported higher than expectations. Overall, the numbers weren't bad considering the snowstorms that occurred in February.
For now, I recommend floating, as I monitor the markets heading into the release of the Fed's Statement this afternoon. I will let you know if a change of course is needed.
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