Favorable re-pricing took place this morning in the mortgage rate department

This morning, Janet Yellen testified at her confirmation hearing to be the next Federal Chief. She expressed strong support for the Fed's bond purchase program, which lifted MBS. Weak results for the 30-year auction caused MBS prices to move lower in the middle of the session, but MBS later climbed back to the highs. Today's economic data had little impact and the Dow is up 50 points. Tomorrow Industrial Production, Empire State, and Import Prices will all be released.

Stay Tuned – you never know which way the rates will go next!

 Michelle Morris
Senior Loan Officer
Michelle@SDFunding.com
Cell: 619-850-3600
Fax: 619-821-8908

San Diego Funding
2468 Historic Decatur Road #160
San Diego, CA 92106
NMLS 264030   CA BRE 01238196