The Federal Open Market Committee (FOMC) released its meeting minutes from the September 18 meeting. The release pressured bond prices lower, because the Fed showed increasing concern on economic growth and was less vocal on inflation. Mortgage bonds are still holding on right at their 200-day moving average, despite the Fed comments and the dollar’s slide against the Euro since the cut. Bonds are fighting back hard, and I’m anxious to see them finally take a good run above the 200day MA again so we can finally secure a 30yr fixed at less than 6% again!
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