| Sep 20, 2011 2:13PM Ever since the abundance of data last Thursday morning, the general expectation has been for a decrease in volume and directionality heading into tomorrow's FOMC announcment. So far, that's what we've gotten, although there have been some brief Europe-related spikes. You can actually see the trend of "lower highs" in 10yr yields and how the promise of the Greek conference call got yields to break above that trendline overnight. You can also see how it was tested extensively this morning (the yellow... Sep 20, 2011 2:46PM Some overnight news out of Europe did a small amount of damage to bond markets earlier this morning and based on market levels, Mortgage Rates were just barely weaker than yesterday. But the damage was seen only in terms of COSTS and not in the actual INTEREST RATES that you'd see on your Good Faith Estimate. (see "Current Market" for more details). This is basically a "gimme" ahead of tomorrow's high-risk event the FOMC Announcement (AKA "Fed Rate Decision." Although nothing will change in terms...
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