• April 28, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is up +24 BPS with 60 minutes left to trade. Jobs, Jobs, Jobs: The quarterly release of the Employment Cost Index for the 1st QTR showed a solid gain of 1.2% vs. est. of 1.1%. Inflation Nation: March headline PCE showed a MOM

• April 27, 2023
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• realestatelife

Federal Reserve expected to raise rates another 25 basis points next week The U.S. economy rose 1.1% in the first quarter, falling short of estimates, in a sign that a slowdown is underway.  It is also a big pullback from the fourth quarter’s 2.6% rise and the third quarter’s 3.2% increase, according to the final estimate

• April 27, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is down -12 BPS with 60 minutes left to trade. Taking it to the House: The March Pending Home Sales Index contracted by -5.2% vs. est. of +0.5% Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were lower than expected, 230K vs. est. of

• April 26, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is down -22 BPS with 60 minutes left to trade. Taking it to the House: Weekly Mortgage Applications edged up 3.7%. Purchases led the way with a 4.6% gain. Refinances were flat at 1.7% Rosie the Riveter: The March Headline Durable Goods Orders

• April 25, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is up +18 BPS with 60 minutes left to trade. Taking it to the House: March New Home Sales were much stronger than expected, hitting 683K on an annualized basis vs. est. of 634K and a nice jump from the Fed pace of

• April 24, 2023
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• realestatelife

MBS OVERVIEW Three Things: These are the three areas that have the greatest ability to impact your backend pricing this week. 1) LLPA, 2) Inflation Nation and 3) GDP 1) LLPA: Loan Level Pricing Adjustments are now a form of social engineering and will have a big impact on how mortgage rates are calculated, Bryan

• April 21, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is down -3 BPS with 60 minutes left to trade. Rosie the Riveter: April Flash S&P Marit PMIs were stronger than expected. The Manufacturing PMI was 50.4 vs. est. of 49.0 and the Services PMI were 53.7 vs. est. of 51.5 The 10

• April 20, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is up +17 BPS with 60 minutes left to trade. Taking it to the House: March Existing Home Sales were 4.44M units on an annualized basis, vs. est. of 4.500M Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were a smidge higher than expected, 245K vs. est.

• April 19, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is up +5 BPS with 60 minutes left to trade. Domestic Flavor: Taking it to the House: Weekly Mortgage Applications fell by -8.8%. Purchases tanked by -10.0%. Refinances decreased by -5.8%. Treasury Dump: We had the 20 year Treasury bond auction today at

• April 18, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is down -5 BPS with 60 minutes left to trade. Domestic Flavor: Taking it to the House: March Building Permits dropped from an annualized pace of 1.55M units down to 1.413M. Housing Starts moved from 1.432M down to 1.420M. The good news for