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Listen Live
Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
MBS OVERVIEW 3:00 EST – Our benchmark FNMA MBS 6.00 January Coupon is down -11 BPS with 120 minutes left to trade. The Talking Fed: Fed Chair Powell spoke about the independent role of Central Banks today at 9 am but did not address Fed economic policy, rates, etc. Optimism? The December NFIB Small Business
READ MOREHomeowners Still Have Positive Equity Gains over the Past 12 Months If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates. Equity is the current value of your
READ MOREInflation Nation: We have a mixed bag of inflationary data today. Headline PCE YOY was hotter than expected, 5.5% vs. est. of 5.3%, plus October was revised higher to 6.1%. MOM, PCE was much less than expected, up only 0.1% vs. est. of 0.3% however some of that miss is due to an upper revision
READ MOREJobs, Jobs, Jobs: Initial Weekly Jobless Claims were lower (better) than expected, 216K vs. est. of 222K. The more closely watched 4 week moving average moved down to 222K. Continuing Claims were 1.672M vs. est. of 1.683M. Rainbows and Unicorns: We got the 3rd release of the 3rd QTR GDP and it continues to be
READ MORETaking it to the House: Weekly Mortgage Applications eked out a small gain of 0.9%. Purchase Applications were down -0.1% and Refinance Applications were up a strong 6.0%. November Existing Home Sales were lighter than expected with 4.09M units at an annualized pace vs. est. of 4.20M and a steep drop from October’s pace of
READ MOREDomestic Flavor: Taking it to the House: November Housing Starts were higher than expected, 1.427M vs. est. of 1.415M on an annualized basis. Single-Family starts were down -4.1% from 863K to 828K SAAR, which is the lowest since May 2020. Multi-Family starts rose 4.8% from 557K to 584K, highest since April 2022. Building Permits fell
READ MOREThree Things: These are the three areas that have the greatest ability to impact your backend pricing this week. 1) Inflation Nation, 2) The Consumer and 3) Central Bank Palooza. 1) Inflation Nation: We get the Fed’s key measure of inflation, Personal Consumption Expenditures (PCE) on Friday. Both headline PCE and Core (ex food and
READ MOREDomestic Flavor: Rosie the Riveter: The preliminary December Markit Manufacturing PMI continued its freefall, dropping to an alarming 46.2 vs. 47.7. Services were even worse, 44.4 vs. est. of 46.8 The Talking Fed: NY Fed President John Williams said that the Fed is focused on doing “what is necessary” to lower inflation to 2% and
READ MORERetail Snails: November headline Retail Sales were dismal, down -0.6% vs. est. of -0.1%. Ex-Autos, they were down -0.2% vs. est. of +0.2%. Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were much lighter (better) than expected, 211K vs. est. of 230K. The more closely watched 4 week moving average dropped to 227K. Continuing Claims matched
READ MOREThe Federal Reserve on Wednesday raised its benchmark interest rate by 50 basis points, slowing its campaign to cool the economy amid early signs that stubbornly high inflation is finally starting to ease. The widely expected move puts the key benchmark federal funds rate at a range of 4.25% to 4.5%, the highest since before
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