• August 2, 2023
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• realestatelife

Afternoon WRAP UPUMBS 5.5: 98.69 (-17bps)10yr yield: 4.09 Although bonds are well off the worst levels of the day, nothing really points to potential for improvement. Rates still look poised to hit new highs for the year, and unless a surprisingly weak labor reading comes in on Friday we don’t have anything on the horizon

• August 1, 2023
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• realestatelife

08/01/23 4:47pm ET WRAP UPUMBS 5.5: 98.86 (-39bps) 10yr yield: 4.04 No improvement today, leaving the door open for things to get worse. Risks favor locking, little reason to believe that we will see rates move lower. If Friday’s jobs data shows softening to the labor market, we could see rates fall back again… but

• July 31, 2023
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• realestatelife

Wrap up10yr yield: 3.96 Bonds off their best levels of the day, if you saw one of the handful of reprices better today you may see them reprices worse again before the day is over… otherwise not enough movement for most lenders to bother (but some may). Unless holding out for jobs data or CPI

• July 28, 2023
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• realestatelife

07/28/23 4:30pm ET WRAP UPUMBS 5.5: 99.30 (+38bps)10yr yield: 3.96 After a rough ride, mtg bonds about the same levels we ended with on Tuesday. I told you not to panic yesterday, although we won’t yet see the full recovery on most rate sheets unless we get a positive start Monday, bonds have recovered a

• July 27, 2023
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• realestatelife

Rate sheets this morning should be a bit better than yesterday, and reprice risk on the day is low. Strong economic data this morning put a damper on things… jobless claims coming in lower than expected pointing to a strong labor market, 2nd qtr GDP data showing the economy is nowhere near a recession, and

• July 26, 2023
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• realestatelife

Our benchmark FNMA MBS 6.00 August Coupon is currently up +28 BPS. Taking it to the House: Weekly Mortgage Applications were down by -1.8%. Purchases led the way lower with -2.5%. Refinances were basically flat at -0.4%. June New Home Sales were vs. est. of 727K. The Talking Fed: We got the Fed’s latest Interest

• July 25, 2023
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• realestatelife

Rate sheets this morning likely slipping a bit from yesterday as bonds lose ground early. Reprice risk today is low, the losses will already be on the day’s rate sheet and the real fireworks come tomorrow after the Fed meeting. Today brings consumer confidence data at 10am ET though, which could see morning rate sheets

• July 24, 2023
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• realestatelife

Rate sheets this morning likely pretty similar to Friday, as bonds settle in to the calm before the storm. Reprice risk today is low, with nothing in the way of economic data to shake things up and a muzzle still on all the Fed speakers ahead of this week’s Fed meeting. Likely that rates tread

• July 18, 2023
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• realestatelife

MBS OVERVIEW Our benchmark FNMA MBS 6.00 August Coupon is currently up +8 BPS. Retail Sales: We got a mixed bag with the June data. The headline Retail Sales were lighter than expectations, 0.2% vs. est. of 0.5% but May was revised higher from 0.3% to 0.5%. Ex Autos, Retail Sales were up 0.2% vs.

• July 17, 2023
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• realestatelife

MBS OVERVIEW Our benchmark FNMA MBS 6.00 August Coupon is currently up +11 BPS. Rosie the Riveter: The July NY Empire Manufacturing Index surprised to the upside in the Fed’s district, showing expansion of 1.1 vs. est. of 0.0. It is that index’s second straight month of growth. Yellen is Yelling: Treasury Secretary Janet Yellen