Mortgage Rates improved today after MBS posted a 28bp gain. (See Real Time Rates) After the lowest Consumer Confidence number since they started tracking it in 1967.

The Fed started its 2-day meeting this morning. Whose listening and what are they going to say? They have already reduced the Fed Funds to essentially ZERO, and have disclosed there MBS purchasing goals.

Obama is mulling over a “Bad Bank” plan

Today’s chart Consumer Confidence

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