Today has no important economic data for release, but we do have three Fed events that are likely to cause plenty of volatility in the mortgage markets. The first is the 12:30 PM adjournment of the FOMC meeting that started yesterday. It is widely expected that Mr. Bernanke will not change key short-term interest rates at this meeting, but there is a great deal of speculation that they will address or clarify their intentions on tapering their current bond-buying program (QE3). This is super important and will play a key role in the mortgage and financial markets. Expect the worse….sorry. Have a super fantastic day!