Good Morning All. Markets will be looking to tweak post-FOMC investing positioning today. Overnight TSY yields moved lower after a period of profit taking yesterday. Mortgage bids are moving marginally lower at the open....

APRIL FN30_____________________________

FN 4.0 -------->>>> -0-01 to 100-15 from 100-16

FN 4.5 -------->>>> -0-01 to 102-04  from 102-05

FN 5.0 -------->>>> -0-01 to 103-00 from 103-01

FN 5.5 -------->>>> -0-01 to 103-16 from 103-17

FN 6.0 -------->>>> +0-01 to 104-01 from 104-00

APRIL GN30________________________________

GN 4.0 -------->>>> -0-02 to 100-20  from 100-22

GN 4.5 -------->>>> -0-02 to 102-11 from 102-13

GN 5.0 -------->>>> -0-03 to 103-13 from 103-16

GN 5.5 -------->>>> -0-04 to 103-25 from 103-29

GN 6.0 -------->>>> +0-00 to 104-04 from 104-04

We experienced an afternoon sell off in mortgage markets yesterday after TSY traders took profits and originators dumped off some supply. Reprices for the worse were noted but were not widespread. Lock desks were busy as many borrowers grew weary of fence sitting...we may begin to see the effects of operational capacity if commitment buckets were adequately filled in yesterdays session....we however remain HOPEFUL that lenders have implemented the appropriate strategies to offset expected fallout and new applications.