• 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

• April 17, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is down -20 BPS with 60 minutes left to trade. Rosie the Riveter: The April Empire State Manufacturing Index surprised to the upside with a very respectable reading of 10.8 vs. est. of -18.0 following March’s massive loss of -24.6. Taking it to

• April 14, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 May Coupon is down -35 BPS with 60 minutes left to trade. Retail Snails: Headline March Retail Sales showed another monthly decline, contracting by -1.0% vs. est. of -0.4%. Ex Autos, it was down -0.8% vs. est. of -0.3% and the Control Group shrank by

• April 13, 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. Inflation Nation: The headline March PPI was much lighter than expected, decreasing by -0.5% vs. est. of 0.0% on a MOM basis and 2.7% vs. est. of 3.0% on a YOY basis. When

• April 11, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 April Coupon is up +3 BPS with 60 minutes left to trade. Glass Half Empty: The March NFIB Business Optimism Index dropped from 90.9 to 90.1. Treasury Dump: We kicked off three days of dumping our debt into the marketplace with our shorter term 3

• April 10, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 April Coupon is down -3 BPS with 60 minutes left to trade. The Talking Fed: In the New York Fed’s March Survey of Consumer Expectations, inflation expectations are on the rise once again, especially the short-term as the Median inflation expectations increased by 0.5 percentage

• April 7, 2023
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• realestatelife

MBS OVERVIEW Jobs, Jobs, Jobs: Its BIG JOBS Friday! You can read the official BLS report here. Here is the Tale of the Tape: Jobs: March Non Farm Payrolls (NFP) 236K vs. est. of 240K February NFP revised from 311K to 326K January NFP revised from 504K to 472K The rolling three month average is