CHM Blog

The MBA reported mortgage applications for last week increased 0.4% after increasing 2.8% the prior week. Purchase applications down 4.7% after -2.7% the prior week, refinance apps +4.1% following +7.1%. Not much improvement given the decline in 30 year interest rates to a four-year low.

At 1 pm Treasury will auction $70B of 5 year notes. Recent Treasury auctions have not been aggressively bid with the dollar declining and US debt is hovering in the background. Occasionally there will be some comments about the debt, but they quickly fade, no one in Washington or NY want to make much of it but it is one key reason long term US interest rates (10s and 30s) will find resistance.

PRICES @ 10:00 AM

10 year note: 4.06% +2 bp

5 year note: 3.63% +3 bp

2 year note: 3.49% +3 bp

30 year bond: 4.70% +2 bp

30 year FNMA 5.0: @9:30 am 100.29 -6 bp (-10 bp from 9:30 am yesterday)

30 year FNMA 5.5: @9:30 am 101.52 -1 bp (-4 bp from 9:30 am yesterday)

30 year GNMA 5.0: @9:30 am 100.22 unch (-1 bp from 9:30 am yesterday)

Dollar/Yen: 156.50 +0.59 yen

Dollar/Euro: $1.1787 +$0.0014

Dollar Index: 97.88 +0.04

Gold: $5,189.60 +$13.30

Bitcoin: 66,247 +1773

Crude Oil: 65.47 -$0.16

DJIA: 49,308 +134

NASDAQ: 23,127 +263

S&P 500: 6930 +40

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.