Good Tuesday AM from your Hometown Lender,

Not much in the way of economic data today. Fed Chairman Powell was testifying at the Senate Banking Committee and mentioned as expected, the Fed is in no rush to cut rates. His statements were released before he testified so markets had plenty of chances to adjust. The 10yr note has sold off a bit and is now back above 4.50%. mortgage bonds are about flat on the day.

The week really starts tomorrow when CPI is released.

Markets are expecting a muted report which would be welcome. It will likely not move the Fed any quicker or closer to another cut but a strong report would likely stall them further.

I would not float heading into tomorrow’s data.

Stay safe and make today great!!!