http://MikesDailyMarketReport.com: There are no economic data being reported today; however, the rest of the week will get busy with data from Housing, inflation, retail sales and manufacturing. There were 2 Fed Members speaking today, whom are voting members, so their words carry weight. There's still some uncertainty about whether the Fed will hike 0.5% at it's March FOMC, but it appears to be in agreement on the importance of it's Balance Sheet reduction. But the BIG Headlines are coming out of Ukraine, which it's being reported that Russia will attack on the 16th and satellite images indicate that Russia's troops are now being moved into attack formations. This has the Markets in a very volatile state with Stocks in the Red. MBS is in Negative Territory, but it's really fluctuating a lot (any where between -20bps and -35bps). This has led some Lenders to reprice both ways, so it's really difficult to say which way it will finish. We received assistance on Friday when the news broke out on Ukraine/Russia, which we went from negative territory to closing up 53bps. However, today's pricing for Mortgage Rates are a little worse than Friday's close. Meanwhile, Yields have been teetering back and forth from it's 2.00% level -going above and above. It's currently just under 2.00%.
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