CHM Blog

Rates began higher this morning on reaction to the increased tensions in the mid-east. On Saturday Iran launched an attack on Israel, firing hundreds of various missiles but few actually hit targets. According to reports there was little damage in Israel and no casualties. Iran planned its attack for a Saturday when global markets were closed, otherwise there would have been massive movements in markets. At 8 am ET the 10 year note +10 bps, the 2 year note +8 bps; MBS prices began -27 bps from Friday’s close.

Iran now saying there won’t be anymore attacks. Israel saying no retaliation planed so far. Air traffic reopened and the government lifted its directive to head to bomb shelters.

March retail sales at 8:30 am continue to hold strong; month/month +0.7% with estimates at +0.4%, ex vehicles +1.1% with forecasts at +0.5%, ex vehicles and gas expected +0.3% increased 1.0%.

At 9:30 am the DJIA opened +366 after declining 476 last Friday, the first higher open in sixteen days. The 10 year note at 9:30 am 4.62% +10 bps. FNMA 6.0 30 year coupon at 9:30 am -33 bps from Friday and -40 bps from 9:30 am Friday.

At 10 am April NAHB housing market index, expected unchanged from March at 51, reported at 51.

PRICES @ 10:00 AM

10 year note: 4.63% +10 bp

5 year note: 4.67% +10 bp

2 year note: 4.98% +7 bp

30 year bond: 4.72% +9 bp

30 year FNMA 6.0: @9:30 am 99.44 -33 bp (-40 bp from 9:30 am Friday)

30 year FNMA 6.5: @9:30 am 101.14 -25 bp (-30 bp from 9:30 am Friday)

30 year GNMA 5.5: @9:30 am 98.39 -39 bp (-47 bp from 9:30 am Friday)

Dollar/Yuan: $7,3745 +$0.0017

Dollar/Yen: 154.35 +1.07 yen

Dollar/Euro: $1.0641 unch

Dollar Index: 106.03 -0.01

Gold: $2,362.40 -$10.40

Bitcoin: 66,405 +2204

Crude Oil: $84.77 -$0.89

DJIA: 38,314 +330

NASDAQ: 16,272 +96

S&P 500: 5164 +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.