http://MikesDailyMarketReport.com: Housing Starts rose to 1.572 million annualized units in May, as it's April numbers were reduced from 1.569 million to 1.517 million. It's counter-part, Building Permits dropped to 1.681 million annualized units, as confidence with Home Builders sours. They're still facing issues with labor, rising prices and short supply with materials. Stocks are in Mixed Territory this morning, as Investors brace for the FOMC policy statement around 11:30am PST. Investors will be looking for clues to the Fed's thoughts on inflation, jobs/economy, tapering and review Dot Plot for future projected rate hikes. MBS is little changed, as it's currently Up 3bps; and Mortgage Rates remain Unchanged. Yields moved slightly too, as it sits just under 1.49%. Now, it could get very choppy after the FOMC announcement and Investors review the wording and Dot Plot. This volatility could extend into tomorrow morning. So, be careful!
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