Economic Statistics for 8 Apr 15
The MBA reports that mortgage applications rose o.4% last week. Purchases rose 7.0%, but re-fis fell -3.0%.
The minutes of the Fed’s last FOMC meeting shows some concern about when–and how–to raise rates and unwind Quantitative Easing. The minutes show that making monetary policy changes very gradually is going to be the policy. Policy changes may begin as early as the summer, though this, of course, will be data-driven.