June 17th, 2026 9:44 AM by Richard Sardella MLO.100007700/NMLS 233568
Treasury rates unchanged this morning with the FOMC policy statement, Fed predictions, and Kevin Warsh’s press conference at 2 pm ET this afternoon. Warsh will face a lot of questions regarding his comments that the Fed needs to re-calibrate its communication. There will be dot plot projections, maybe for the last time; he will likely be questioned about whether press conferences after each FOMC meeting will be cut back. Prior to Powell press conferences after FOMC meetings were just four time a year, Powell increased it to eight times, after each FOMC meeting (the FOMC meets eight times a year).
MBA mortgage applications last week fell by 3.8%, the fourth week of contraction from the last five. Applications to refinance an existing mortgage fell by 4.5%. Applications for a mortgage to purchase a home dropped by 3.4%.
The “memorandum” with Iran is scheduled to be signed on Friday in Geneva.
Retail sales in the US increased 0.9% month/month in May, higher than a downwardly revised 0.4% rise in April and above forecasts of 0.5%, signaling a robust consumer spending.
May pending home sales, expected +0.9% from +1.4% in April, sales increased 3.8%, April revised to +0.3%.
PRICES @ 10:00 AM
10 year note: 4.43% -1 bp
5 year note: 4.16% unch
2 year note: 4.07% unch
30 year bond: 4.92% -2 bp
30 year FNMA 5.5: @9:30 am 100.47 -1 bp (+10 bp from 9:30 am yesterday)
30 year FNMA 6.0: @9:30 am 102.20 +3 bp (+6 bp from 9:30 am yesterday)
30 year GNMA 5.5: @9:30 am 100.67 +3 bp (-3 bp from 9:30 am yesterday)
Dollar/Yen: 160.28 -0.17 yen
Dollar/Euro: $1.1598 -$0.0012
Dollar Index: 99.62 +0.08
Gold: $4,360.20 +$1.16
Bitcoin: 65,162 -442
Crude Oil: $77.14 +$1.06
DJIA: 52,197 +197
NASDAQ: 26,365 -12
S&P 500: 7508 -3
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.