June 23rd, 2026 10:03 AM by Richard Sardella MLO.100007700/NMLS 233568
Last week Fed chair Warsh said he is still fixated in a 2.0% inflation target, there was an idea floating around he may consider increasing the Fed’s long held 2.0% target. This morning a little improvement from yesterday.
At 8:30 am ET the 10 year rate at 4.49% -2 bps, MBS prices began +7 bps after declining 20 basis points in price yesterday. There isn’t any reason to expect rates will change before the inflation data hits on Thursday.
The bond market isn’t as nervous about Iran issues as it was a month ago when it looked like the US would restart military attacks.
There is a little support this morning in the bond market with stocks under pressure, after months of increasing the tech heavy NASDAQ is experiencing selling pressure, this morning in pre-opening trading the NASDAQ down 3.0%, 900 points, yesterday down 357. NASDAQ leads the way but the S&P and DJA are following.
At 1 pm Treasury will auction a 2 year note.
PRICES @ 10:00 AM
10 year note: 4.48% -3 bp
5 year note: 4.25% -4 bp
2 year note: 4.20% -4 bp
30 year bond: 4.93% -2 bp
30 year FNMA 5.5: @9:30 am 100.08 +7 bp (+4 bp from 9:30 am yesterday)
30 year FNMA 6.0: @9:30 am 101.88 +4 bp (+1 bp from 9:30 am yesterday)
30 year GNMA 5.5: @9:30 am 100.27 +4 bp (+2 bp from 9:30 am yesterday)
Dollar/Yen: 161.51 -0.08 yen
Dollar/Euro: $1.1396 -$0.0033
Dollar Index: 101.23 +0.21
Gold: $4,143.90 -$58.80
Bitcoin: 62,361 -2060
Crude Oil: $73.65 -$0.61
DJIA: 51,555 -157
NASDAQ: 25,819 -347
S&P 500: 7403 -70
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.