Mortgage Today 06/13/24: UMBS Up 13 BPS as PPI and Jobless Claims Support Lower Rates
2 green days in a row. I hope I don't jinx it. UMBS up 13 bps on the open. Both the PPI and Jobless Claims numbers are clearly in the "rate friendly" camp. [...]
Mortgage Today 06/12/24: UMBS Soar 46 BPS After Better-Than-Expected CPI Report
Wednesday - June 12, 2024 Oh Glorious Day. UMBS are up 46 bps in the first hour of trading!! S&P Futures up 6.75 points Headline CPI MoM = 0 vs 0.1% forecast [0.3% [...]
Mortgage Today 06/11/24: UMBS Up 19 BPS as Investors Eye Fed Meeting and CPI Data
UMBS are actually green for once in the first hour. Up 9 bps. S&P futures down 12.25 points Investor demand for haven assets rose as political upheaval in Europe intensified, driving gains in [...]
Mortgage Today 06/10/24: UMBS Drops, Stock Futures Down, Eyes on FOMC and CPI Reports
UMBS opened the day down 8 bps. Stock futures down 4 pts. Stocks are lower this morning with no significant news, and both bonds and MBS are down. The upcoming week will be [...]
Mortgage Today 06/06/24: UMBS Down 3 BPS as Markets Pause Ahead of Jobs Report and ECB Rate Cut
UMBS are down 8 bps on the open. S&P Futures are pretty much flat. We've been anticipating this week of data for the past 3 weeks and it has been delivering on the [...]
Mortgage Today 06/03/24: ISM Data Boosts Bonds, UMBS Closes Up 29 BPS
UMBS opened the week up 25 bps in the first hour of trading. S&P Futures up 7.75 points Bonds came into the domestic session in fairly good shape with modest overnight gains and [...]
Mortgage Today 05/30/24: Bond Weakness and Rising Home Prices Amid Stagflation Concerns
A rare green morning for MBS. Opened up 21 bps. S&P Futures down 21.75 Not only are there no whammies in this morning's data, but the downward revision to the quarterly PCE data [...]
Mortgage Today 05/29/24: Bond Weakness Continues, Home Prices Climb, and Consumer Confidence Up
UMBS opened the day down 15 bps. S&P futures down 34.5 points. Bonds got hammered yesterday after a lousy bond auction of 5-year notes, which sent the 10 year yield back above 4.5% [...]