http://MikesDailyMarketReport.com: Factory Orders disappointed in March, as many economists had expected 1.3% (some even thought higher) MoM growth; however, it came in at 1.1%. Stocks are Down this morning after comments by Treasurer Janet Yellen. She indicated that the Fed could raise rates much sooner if the economy begins to overheat. MBS was higher until those comments too; and is currently Down 2bps. Mortgage Rates remained Unchanged from yesterday's close. Yields have slid down further (including below it's 50 DMA); and are currently at 1.59%.
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