The Mortgage Update

MBS lost ground late yesterday as the market reacted to a Financial Times article claiming the Fed may end asset purchases sooner than later. Tapering is the word of the day as the Federal Reserve starts their two-day policy meeting today. Investors are looking for signals that the central bank will begin to slow bond purchases. Housing Starts will be reported today and a possible predictor for the Fed’s announcement tomorrow. Anything could happen today we just need to wait and listen…tapering.