Mortgage Today 2/7/24: Real Estate Crisis Deepens Amid Rising Rates and Bank Challenges
UMBS were down 6 bps in early trading. Stock futures rose and bonds fell before a record $42 billion sale of 10-year Treasuries, with investors also awaiting a handful of Federal Reserve speakers [...]
Mortgage Today 2/6/24: Fed’s Kashkari Signals Caution on Rate Cuts Amidst Market Volatility
UMBS were up 9 bps in early trading. Global bond markets steadied after the biggest two-day selloff in months, while stocks looked for direction amid mixed earnings. Investors continue to fret over the [...]
Mortgage Today 2/5/24: Examining Powell’s Cautious Stance, Job Resilience, and Real Estate Hotspots in 2024!
UMBS down 25 bps in early trading. The 5.5 coupon down 41. Powell told CBS Sunday that the central bank would be cautious about rate cuts and that the Fed was still searching [...]
Mortgage Today 2/2/24: Unraveling the NFP Surprise, Housing Market Resilience, and Softening Inflation Expectations!
UMBS were down 30 bps in the first hour of trading. Nonfarm Payrolls = 353k vs 180k f'cast last month revised to 333k from 216k Unemployment Rate = 3.7 vs 3.8 f'cast Earnings [...]
Mortgage Today 2/1/24: UMBS Market Trends, Jobless Claims, and Regional Banking Challenges Unveiled
UMBS opened up 3 bps - again. Am I in groundhogs day or something? Bonds were remarkably calm overnight considering yesterday's movement and the fact that month-end trading played a role. The calm [...]
Mortgage Today 1/30/24: FOMC Meeting Insights, Housing Trends, and Economic Signals
We are up 3 bps on the first hour of the day. Seems like that has become the norm lately. All the activity in the afternoon. Day one of the two-day FOMC meeting [...]
Mortgage Today 1/29/24: Navigating Geopolitical Risks and Fed’s Tightrope Walk
UMBS were up 5 bps on the morning so far. From Chris Maloney - Interest rate futures predict five rate cuts this year, and while I am inclined to disagree with that view. Though, [...]