Markets will be focused on the FOMC policy statement this afternoon

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Published Date 3/19/2025

Rates began unchanged this morning ahead of FOMC and Powell this afternoon.

MBA mortgage applications lower, the total apps -6.2% after increasing 11.2% the week before, purchase applications increased 0.1% after jumping 7.0% while refinance apps slipped 12.8% from +16.2% the prior week. Over the last two weeks the cumulative increase +37%.

Nothing on the calendar now until the FOMC at 2 pm ET and Powell at 2:30 pm. Beside the usual policy statement that is usually convoluted with what ifs, the Fed will release its quarterly forecasts for employment, inflation, and GDP growth for the next two years. The Fed, like everyone else is in a quandary about the immediate outlook. Even the fed’s projections this time are less reliable with US economic outlook clouded by results of tariffs.

At 9:30 am the DJIA opened +62, NASDAQ +99, S&P +18. 10 year at 9:30 am 4.30% +1 bp. FNMA 6.0 30 year coupon at 9:30 am -5 bps from yesterday’s close and +9 bps from 9:30 am yesterday.

Source: TBWS

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NEXA Mortgage, LLC (NMLS #1660690) is an equal Housing Lender - 3100 W Ray Rd 201, Suite 209, Chandler, AZ 85226 (www.nmlsconsumeraccess.org)

Scott Moon

Home Loan Advisor

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NEXA Mortgage

3100 W Ray Rd Suite 201 Office 209, Chandler AZ 85226

Company NMLS: #1660690

Office: 202-352-5625

Cell: 202-352-5625

Email: smoon@nexamortgage.com

Web: http://www.scottmoon.us