Good Friday AM from your hometown lender,

Not much data today and so rates should be about the same as yesterday, which means about the same as last Friday too… this week definitely could have turned out worse.

The bigger news today was Fed Governor Chris Waller championing a Fed rate cut at the July meeting. He is in the minority at the Fed for now, but winds change quickly in Washington. Bonds are showing signs of leveling off after losing ground the last couple of weeks, opening the door to cautiously floating into next week.

This is the technical trade taking control of the emotional volatility which makes our days far more manageable. We are likely heading back down toward the middle of the current channel which will bring the 10-yr back below 4.40% and improve pricing about .125%. From there, we will see where the market wants to go. 

Stay safe and make the weekend great!!!