December 26th, 2023 9:06 AM by Richard Sardella MLO.100007700/NMLS 233568
The last week of 2023, a short week with very little interesting news. Should be quiet in markets unless something occurs geopolitically. The calendar doesn’t have much this week. Most of Europe remains closed today.
Say good-bye to one of the worst years in the mortgage industry, say hello to 2024 a year of marked improvements in housing. Sellers will list, buyers will emerge.
October Case/Shiller home prices in the 20 biggest U.S. metros rose for the ninth month in a row and hit a record high, due to a persistent lack of homes for sale.
At 9:30 am the DJIA opened +25, NASDAQ +37, S&P +7. 10 year at 9:30 am 3.91% +1 bp. FNMA 6.0 30 year coupon at 9:30 am +11 bps from Friday’s close and +10 bps from 9:30 am Friday.
At 1 pm Treasury will auction $57B of 2 year notes, starting three days of auctions (2s, 5s, and 7s)
Last Week’s changes: the 10 year note yield declined 1 bps, 2 year note increased 9 bps. FNMA 6.0 30 year coupon price +9 bp. The DJIA this week +81, NASDAQ +179, S&P +36. Crude oil increased $2.04. Gold increased $32.00. The dollar continued to weaken. Bitcoin kept up the increase, up 1,619.
PRICES @ 10:00 AM
10 year note: 3.91% +1 bp
5 year note: 3.90% +2 bp
2 year note: 3.37% +3 bp
30 year bond: 4.04% -1 bp
30 year FNMA 6.0: @9:30 am 101.50 -5 bp (+8 bp from 9:30 am Friday)
30 year FNMA 6.5: @9:30 am 102.31 -7 bp (-5 bp from 9:30 am Friday)
30 year GNMA 5.5: @9:30 am 100.58% +4 bp (-1 bp from 9:30 am Friday)
Dollar/Yuan: $7.1437 +$0.0072
Dollar/Yen: 142.41 +8 yen
Dollar/Euro: $1.1026 +$0.0010
Dollar Index: 101.61 -0.09
Gold: $2066.20 -$2.90
Bitcoin: 42,660 -836
Crude Oil: $75.23 +$1.74
DJIA: 34,434 +48
NASDAQ: 15,047 +54
S&P 500: 4767 +12
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.