• December 7, 2023
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• realestatelife

Rate sheets this morning likely to be similar to yesterday, despite the gains bonds made through the day on Wednesday, losing ground this morning to a cry of “Godzilla!!!” as Japan unleashed a different monster that stomped on bonds. Not anything to get worked up about though, just that the yen surged as speculation grew

• December 6, 2023
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Rate sheets this morning likely to be similar to yesterday, which is to say some of the best pricing we’ve seen in months. However, we could see rates improve further over the coming days, as global markets bet on central banks cutting rates sooner than was expected a few months ago. Reprice risk on the

• December 5, 2023
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UMBS 6.0 100.80 (+20bps)10yr yield 4.17 Markets betting hard now that the Fed will cut rates by March, pushing yields lower and driving mortgage rates down as weaker JOLTS data today contributed to speculation that the labor market is cooling after running red hot the last couple of years. The big moves though still to

• December 4, 2023
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Rate sheets this morning will be better than Friday’s rate sheet, more in line with any reprices better you got on Friday. Reprice risk today is low, but remember that tomorrow morning brings JOLTS data as well as some ISM data that could shake things up. However, my current “guess” is that rates will improve this

• December 1, 2023
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• realestatelife

Rate sheets should be similar to yesterday, and it is unlikely we see much movement on the day making reprice risk low. There will be some ISM manufacturing data that could sway bonds a bit as rate sheets start coming out, but it isn’t something to go nuts worrying about. Fed Chair Jerome Powell will

• November 30, 2023
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Rate sheets may lose little bit of ground from yesterday, but shouldn’t be too far off. Unfortunately there wasn’t a stronger reaction to this morning’s PCE inflation data, which came in right at expectations. Reprice risk on the day is low, bonds lost a bit of ground in overnight trading but could make it up

• November 29, 2023
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11/29/23 MARKET WRAP UP UMBS 6.0 100.55 (+22bps)10yr yield 4.26 Fed futures showing that markets now expect the first Fed rate cut to happen in May, and belief building that it could be sooner. Next week’s labor data could fuel that fire, and December still looks like it will bring the lowest rates of the

• November 28, 2023
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• realestatelife

Rate sheets should be about the same as yesterday if the current levels hold (we get consumer confidence data at 10am ET, right around when rate sheets start coming out, and it could shake up bonds and affect pricing). Although mortgage bonds gained ground through the afternoon yesterday, giving a handful of lenders room to

• November 24, 2023
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MBS OVERVIEW Rosie the Riveter: The Preliminary S&P Markit Manufacturing PMI dropped from 50.0 down to 49.4 which is contractionary. The Services PMI moved from 50.6 to 50.8 which is expansionary. In a short session today and with trading volume reduced, the interest rate markets opened weak, at 8:30 am ET the 10 year note up 7 bps to

• November 22, 2023
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Rate sheets this morning should be similar to yesterday, maybe a little better in some cases. Most lenders tend to price a bit more conservatively ahead of a holiday, and reprice risk today is moderate because they will be quick to act if bonds lose ground. Mortgage bonds lost a bit of ground on this