• March 7, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -20 BPS with 60 minutes left to trade. The Talking Fed:  The spotlight today was on Fed Chair Powell as he testified before the Senate Banking Committee at 10 am ET. You can read Powell’s prepared testimony here.Here are a few highlights: Central Bank Palooza: The

• March 6, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -5 BPS with 60 minutes left to trade. Domestic Flavor: Rosie the Riveter: January Factory Orders decreased by -1.6% vs. est. of -1.8%. Across the Pond: Eurozone: Retail Sales were 0.3% vs. est. of 1.0% On Deck for Tomorrow: Reserve Bank

• March 3, 2023
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• realestatelife

MBS OVERVIEW 4:30 EST – Our benchmark FNMA MBS 6.00 March Coupon is up +34 BPS with 30 minutes left to trade. Domestic Flavor: Services: The headline February ISM Non Manufacturing PMI (aka services which represent 2/3 of our economy) was stronger than expected, 55.1 vs. est. of 54.5. Prices Paid were also higher than

• March 2, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -14 BPS with 60 minutes left to trade. Domestic Flavor: Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were lower than expected (190K vs. est. of 195K). The more closely watched 4 week moving average is very low at 193K. Continuing Claims

• March 1, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -26 BPS with 60 minutes left to trade. Domestic Flavor: Taking it to the House: Weekly Mortgage Applications dropped for the third week in a row, this time by -5.7%. Refinances were down -5.5% and Purchases were down -5.7%. Rosie the

• February 28, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is up +0 BPS with 60 minutes left to trade. Taking it to the House: Another round of bad housing news today. December YOY Case Shiller Home Price Index tanked from an appreciation rate of 6.8% in November down to only 4.6% in

• February 27, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is up +8 BPS with 60 minutes left to trade. Rosie the Riveter: January headline Durable Goods Orders were weaker than expected, -4.5% vs. est. of -4.0% but ex Transportation, they were much stronger than expected, 0.7% vs. est. of 0.1%. Non Defense

• February 24, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -29 BPS with 60 minutes left to trade. Inflation Nation: The Fed’s key measure of inflation was much hotter than expected. Headline PCE increased by 0.6% on a MOM basis vs. est. of 0.5%. YOY, it increased by 5.4% vs. est.

• February 23, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is up +20 BPS with 60 minutes left to trade. Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were once again lower than expected, 192K vs. est. of 200K. The more closely watched 4 week moving average is now 191K. Continuing Claims hover near

• March 10, 2023
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• realestatelife

The Department of Housing and Urban Development cut the Federal Housing Administration’s mortgage insurance premium by 30 basis points, a move that many stakeholders think is long overdue. The cut drops premiums from 85 basis points to 55 basis points — reverting premiums to a level not seen since before the 2008 housing crisis. This