Rate Update

Mortgage rates are down from their highs the last couple of days. 


Later this afternoon, the minutes from last Fed Meeting will be released. These minutes may give us a better understanding on how individual Fed members feel about the 'extended period' language and the selling of MBS. We'll also see the results of the Treasury's $40 Billion 3-Year Note auction this afternoon, which could impact trading.

I reccommend floating for today.