CHM Blog

Crude dropped $3.00 yesterday. This morning more follow through, crude down another $6.00. No announced agreement with Iran but the decline in oil prices suggests there will be a deal. Reports this morning that Iran would restore traffic through the Strait of Hormuz as part of a framework deal with the US.

MBA reported mortgage applications fell 8.3% last week. The decline was a big drop in re-finances, down 18.1%, purchase applications slipped 0.4%.

This afternoon at 1 pm Treasury will auction $70B of 5 year notes, yesterday’s 2 year auction met with good demand.

Crude has been falling quickly over the last five sessions, stabilizing gas prices and lessening inflation estimates.

PRICES @ 10:00 AM

10 year note: 4.47% -2 bp

5 year note: 4.16% -2 bp

2 year note: 4.04% -1 bp

30 year bond: 5.01% unch

30 year FNMA 6.0: @9:30 am 101.91 +2 bp (+7 bp from 9:30 am yesterday)

30 year FNMA 5.5: @9:30 am 100.24 +8 bp (+7 bp from 9:30 am yesterday)

30 year GNMA 6.0: @9:30 am 101.75 -3 bp (+4 bp from 9:30 am yesterday)

Dollar/Yen: 159.40 +0.10 yen

Dollar/Euro: $1.1643 +$0.0011

Dollar Index: 99.09 -0.08

Gold: $4,415.50 -$86.80

Bitcoin: 74,797 -1108

Crude Oil: $89.67 -$4.22

DJIA: 50,655 +193

NASDAQ: 26,609 -47

S&P 500: 7517 -2

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.