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Saturday’s: 9AM 1590 AM/97.9 FM KVTA
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Listen Live
Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is up +20 BPS with 60 minutes left to trade. Jobs, Jobs, Jobs: The April ADP Employment Change was much better than expected showing 296K job additions vs. est. of only 148K Taking it to the House: Weekly Mortgage Applications edged lower by
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is up +40 BPS with 60 minutes left to trade. Jobs, Jobs, Jobs: March Job Openings and Labor Turnover Survey (JOLTS) showed 9.590M unfilled jobs which was lower than expectations of 9.775M. The Quits rate was 2.5%. Overall, a solid report but lower
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is down -28 BPS with 60 minutes left to trade. Rosie the Riveter: The April ISM Manufacturing PMI continues to show manufacturing contraction with readings below 50, this time 47.1 but that a lil better than expectations of 45.5. Prices Paid jumped up
READ MOREThe Federal Housing Finance Agency (FHFA) has updated Loan Level Price Adjustments (LLPAs), which are risk assessment fees implemented in the underwriting process before loans are packaged and delivered to Fannie Mae and Freddie Mac. These government Enterprises guarantee most mortgages in the United States, and the changes (announced in January) went into effect May
READ MOREMBS 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
READ MOREFederal 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
READ MOREMBS 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
READ MOREMBS 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
READ MOREMBS 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
READ MOREMBS 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
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