December 22, 2023 – Rate Commentary

• December 25, 2023
• realestatelife
• Business & Markets, Fed, Interest Rates, Politics & Economy, Rates, Real Estate, Real Estate Finance, Recession, World News, Your Real Estate Life

Pricing this morning similar to yesterday, no reason to worry about reprices. Mixed data this morning, but the PCE inflation came in slightly better than was forecast. However, trading volumes are so low it’s not like we are going to see any kind of rally on the news. Bond market closes at 2pm today, and will be closed on Monday.

No reason to lock anything today unless it simply gives you the ability to sleep well with visions of sugarplums dancing in your head. It is very unlikely we see any big moves in rates or pricing between now and after New Years, and locking now only means you lose a bunch of extra days with everyone taking off.

Merry Christmas my friends, one and all.

Technicals:
The UMBS 5.5 coupon is 100.38, up +13bps at the moment, but low volume has it swinging around like Tarzan.
The 10yr Treasury yield at 3.86.