The Mortgage Update

Bonds slumped globally over the weekend. Benchmark notes dropped for a 6th straight day as Ben Bernanke claimed QE may begin to tapper bond purchases this year and end it in mid-2014. Volatility remains the name of the game this week. The Bond Market still lacks confidence and any piece of news or data has the potential to move the market. The first big piece of economic news is Tuesday with Durable Goods Orders and Consumer Confidence. It was another wild night with the market significantly from where we priced on Friday. It’s going to be a wild ride today, buckle up…