July 21st, 2026 1:32 PM by Richard Sardella MLO.100007700/NMLS 233568
Yesterday tensions increased with Iran and Houthis threatening to isolate Saudi Arabia from exporting oil through the Red Sea. This morning the US launched another barrage targeting launch sites and military headquarters. Crude oil is higher this morning on the Houthi threats.
This war has boiled down to the Battle of the Strait.
There isn’t any economic data today.
The Polymarket (predictions) betting on Fed rate increases: 6% chance at the FOMC meeting next week; September meeting 44%, October meeting 50%.
Jamie Dimon speaks: chairman and CEO of JPMorgan Chase, said he personally would not buy American debt. Dimon questioned the upside of buying US debt, noting that inflation has been over 3% for almost five years.
PRICES @ 10:00 AM
10 year note: 4.64% +4 bp
5 year note: 4.37% +5 bp
2 year note: 4.25% +3 bp
30 year bond: 5.14% +3 bp
30 year FNMA 5.5: @9:30 am 99.44 -21 bp (-36 bp from 9:30 am yesterday)
30 year FNMA 6.0: @9:30 am 101.45 -12 bp (-24 bp from 9:30 am yesterday)
30 year GNMA 5.5: @9:30 am 99.91 -16 bp (-22 bp from 9:30 am yesterday)
Dollar/Yen: 162.84 +0.34 yen
Dollar/Euro: $1.1409 -$0.0005
Dollar Index: 101.11 +0.16
Gold: $4,050.20 +$34.30
Bitcoin: 66,302 +1505
Crude Oil: $85.70 +$2.47
DJIA: 52,017 +178
NASDAQ: 25,732 +224
S&P 500: 7480 +37
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.