Bond prices rose yesterday as stocks suffered another beating. The Dow and bond yields both closed at their lowest levels in a month. Stocks were reacting, in part, to President Obama's renewed focus on reigning in big banks.
Austin mortgage pricing would suffer but how much would depend on whether or not a policy change was make towards MBS purchases. Overall, we expect little change from the FOMC but must warn you that starting at high noon today (cst), it could get fast and furious.
Big day in the making as we prepare for 23 [...]