CHM Blog

We have a quiet start this morning ahead of the FOMC minutes this afternoon. At the long end of the curve at 8:30 am ET the 10 year note and 30 unchanged, at the mid and short end the 2 and 5 yields down 1 bp. Stock indexes began flat.

There is no economic data today. Weekly MBA mortgage applications declined 1.4% after increasing 10.9% the prior week, purchase apps +0.1%, refinance apps -3.1% from +23.0% the prior week.

At 1 pm the Treasury will auction $16B of 20 year bonds, recent auctions have been meeting with soft demand.

At 2 pm the FOMC minutes from the July meeting is today’s feature. Traders and investors looking for additional insights about what the Fed was thinking then. With Powell on Friday the focus is less than normal.

At 9:30 am the DJIA opened +60, NASDAQ -51, S&P -4. 10 year at 9:30 am 4.31% unchanged. FNMA 6.0 30 year coupon at 9:30 am unchanged from yesterday and -1 bp from 9:30 am yesterday.

PRICES @ 10:00 AM

10 year note: 4.29% -1 bp

5 year note: 3.81%-2 bp

2 year note: 3.75% -1 bp

30 year bond: 4.90% -1 bp

30 year FNMA 6.0: @9:30 101.73 unch (-1 bp from 9:30 yesterday)

30 year FNMA 6.5: @9:30 103.35 +1 bp (unch from 9:30 yesterday)

30 year GNMA 6.0: @9:30 101.60 -1 bp (-4 bp from 9:30 yesterday)

Dollar/Yen: 147.34 -0.32 yen

Dollar/Euro: $1.1663 +$0.0014

Dollar Index: 98.17 -0.10

Gold: $3,386.40 +$27.70

Bitcoin: 113,170 +61

Crude Oil: $63.19 +$0.84

DJIA: 44.898 -24

NASDAQ: 21,052 -263

S&P 500: 6374 -37

Richard Sardella has been actively managing and providing services in the mortgage industry for over 30 years. Richard serves on the board of directors as President of Colorado Home Mortgages Inc.

All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

MLO of record MLO.100007700 / NMLS#233568 / CHM NMLS#127716.