Mortgage Today 2/27/24: UMBS Down, BNPL Usage Surges, Housing Market Mixed
UMBS down 6 bps early. Once upon a time, the bond market was more willing to react to the Durable Goods data, but the impact has been dwindling in recent years as a [...]
Mortgage Today February 26, 2024: UMBS Flat on Open, Credit Card Rates Hit Record Highs
UMBS flat on the open - down 3 bps. The big number this week will be the Personal Income and Outlays report on Thursday. The report contains the PCE Price Index, which is [...]
Mortgage Today February 20, 2024: Fed Rate-Cut Expectations Shift, Nvidia’s Earnings Awaited
UMBS up 2 bps on the open. Futures on the S&P 500 and Nasdaq 100 are pointing to a down day when Wall Street reopens after Monday’s public holiday. Nvidia Corp. declined in [...]
Mortgage Today 2/16/24: UMBS Market Sees Significant Decline Amid Missed PPI Figures and Housing Market Challenges
UMBS down 33 bps on the open. Ouch. M/M Core PPI = 0.5 vs 0.1 f'cast [-0.1 prev] Y/Y Core PPI = 2.0 vs 1.6 f'cast, [1.8 prev] This is a huge miss [...]
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 [...]