http://MikesDailyMarketReport.com: The Consumer Sentiment dropped to a Decade low, to 61.7 in February from 67.2 in January. This is the lowest number since 2011. Investors are still uncertain how the Fed will proceed once the March FOMC begins, as they receive mixed messages from the Fed. MBS closed Down 83bps yesterday. Like Stocks today, MBS is experiencing some very choppy trading today, as it was Up 35bps a bit earlier, to fall in Negative Territory (currently Down about 6bps). Lenders are re-pricing their Rate sheets for the worse, as Mortgage Rates continue it's rise. Yields broke above the 2.0% range yesterday and is Up to 2.05% currently. Otherwise, it's been a slow day; but the uncertainty to what the Fed will do at their upcoming FOMC is making the Markets very choppy.
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