The Federal Reserve made a mistake and released the FOMC minutes a day ahead of schedule.
The following was reported:

• Moderate economic growth has resumed.
• Labor markets showed signs of improvement, but the unemployment rate remains elevated.
• The Committee will continue to purchase MBS and Treasury Securities at the current pace.  *If the economic outlook deteriorated, the pace would be increased.
• Housing Sector showed signs of improvement.

The DJIA, NASDAQ, S&P and 10 yr. Treasury bond all opened up from yesterday's closing.

At 1 PM the Treasury will sell $21 Billion of 10 yr. Treasury notes.

As the rates have continued to fluctuate, this weeks data shows that the purchasing and refinance markets had adjusted back to past levels, offsetting the shifts reported last week.

We continue to keep a watchful eye on the EU, Korea and the Market Indexes to see how long the rates will remain at their current levels.

-Nancy Bierman