Today's Mortgage Update!

Good Morning Everyone,

No scheduled news today but lots of things going on. There are two big items which are working against one another today, the first is that Trump is now announcing a $60 billion Tariff aimed solely at China, this should help bonds. The other big item is the talk of phase 2 of the tax cuts, this hurts bonds. The overall trend thus far this morning is negative for bonds and it seems clear to me that we will test the bottom of the range. This shouldn't surprise anyone because that is what happens in a trading range, we touch the top and then we touch the bottom. My hope is that we hold because we've pulled down by a negative development on the charts. later today, we will hear from the FED regarding their rate decision. It will surprise if they don't raise rates today. The bigger concern is what they say about the future. So, sit tight and hope the FED goes easy on us and we get a bounce off the bottom.

Here is your Thought for the day:

"Your knowledge and overall intelligence are trapped inside of the house of your beliefs and assumptions." A solution, get a bigger house!

Have a great day!