http://MikesDailyMarketReport.com: We have 2 HPI (Home Price Indexes) released today for the month of December. The Case Shiller Index rose by 10.1% YoY; and the FHFA HPI rose by 11.4%. These are the highest numbers since 2014. Also, Consumer Confidence rose to 91.3 in February. Stocks are Down today! Fed Chair Powell provided his semi-annual testimony before a Senate Committee. He aimed to ease concerns of hyper inflation and warned of long road to economic recovery. Markets are still settling afterwards. Meanwhile, MBS has come off it's lows for the morning (after starting the morning higher) and are currently sitting Down 13bps. This is enough for Lenders to come out with worse pricing on their Rate sheets. Yields are still sitting at 1.36%.
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