July 21st, 2025 10:57 AM by Richard Sardella MLO.100007700/NMLS 233568
There won’t be a rate cut next week when the FOMC meets on July 30th (a week from Wednesday). Although Powell will speak tomorrow (Tuesday) it is unlikely he will have anything to say about what the Fed is thinking or on the possibility of any rate cuts this year.
At 9:30 am the DJIA opened +85, NASDAQ +70, S&P +14. 10 year at 9:30 am 4.38% -5 bp. FNMA 6.0 30 year coupon at 9:30 am +15 bps from Friday’s close and +10 bps from 9:30 am Friday.
At 10 am June leading economic indicators expected -0.2%, reported -0.3%.
This week’s economic calendar doesn’t have much for traders, weekly claims on Thursday is about it. Movement in rates will be driven by trade comments and geopolitical news if any. This is earnings season for equity markets.
PRICES @ 10:00 AM
10 year note: 4.37% -6 bp
5 year note: 3.91% -4 bp
2 year note: 3.86% -2 bp
30 year bond: 4.93% -7 bp
30 year FNMA 6.0: @9:30 am 101.30 +15 bp (+10 bp from 9:30 am Friday)
30 year FNMA 6.5: @9:30 am 103.11 +12 bp (+5 bp from 9:30 am Friday)
30 year GNMA 6.0: @9:30 am 101.28 +11 bp (+8 bp from 9:30 am Friday)
Dollar/Yen: 147.63 -1.21 yen
Dollar/Euro: $1.1663 +$0.0036
Dollar Index: 98.11 -0.38
Gold: $3,395.50 +$37.20
Bitcoin: 118,642 +391
Crude Oil: $67.00 -$0.32
DJIA: 44,478 +136
NASDAQ: 21,047 +153
S&P 500: 6328 +31
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.