Mortgage rates are better again today.
In case you missed it, the Fed announced yesterday that they would buy $600 billion in US Treasury securities over the next 8 months. Analysts were expecting a move of $500 billion over 6 months so the move is not a huge surprise.
What was surprising was that the Fed signaled that even after this $600 billion of money printing they continue to provide stimulus should the economy need it. I believe this detail is providing the catalyst for rates to improve this morning.
That said, both stocks and bonds are trading higher this morning despite mixed economic data. I am going to take a neutral position.
Current outlook: neutral