June 24th, 2026 10:31 AM by Richard Sardella MLO.100007700/NMLS 233568
The US/Iran negotiations are proceeding.
MBA said mortgage applications improved last week, +1.0% after sliding 3.8% the week before. Purchase applications -0.6%, the previous week -3.4%, refinance applications +3.0% from -4.5% the prior week.
Q1 current account deficit -$226.8B from $-221.1B in Q4 2025. The war in the Middle East lifted oil, fuel, and gas prices. The primary income account surplus widened from the earlier period, offsetting a reduced deficit on the goods account.
US building permits decreased 0.9% month-over-month to a seasonally adjusted annual rate of 1.410 million in June, below the preliminary estimates of 1.413 million, final figures showed. Permits for buildings with five or more units fell 4.7% to 468,000, while single-family permits increased 1.2% to 892,000. Regionally, permits dropped in the Midwest (-18.9% to 193,000), but rose in the Northeast (2.3% to 133,000), the South (1.9% to 762,000) and in the West (4.9% to 322,000).
Tomorrow’s PCE inflation has been the focus this week, the improvement today suggests a tilt to the positive.
The 10 year note at a critical level, its 50 day moving average that has held any improvements since early March.
Treasury will sell $70B of 5 year notes this afternoon.
At 10 am May new home sales expected at 640K reported at 580K.
PRICES @ 10:00 AM
10 year note: 4.42% -8 bp
5 year note: 4.21% -7 bp
2 year note: 4.16% -3 bp
30 year bond: 4.87% -7 bp
30 year FNMA 5.5: @9:30 am 100.33 +23 bp (+25 bp from 9:30 am yesterday)
30 year FNMA 6.0: @9:30 am 102.07 +15 bp (+19 bp from 9:30 am yesterday)
30 year GNMA 5.5: @9:30 am 100.43 +11 bp (+16 bp from 9:30 am yesterday)
Dollar/Yen: 161.75 +0.17 yen
Dollar/Euro: $1.1341 -$0.0041
Dollar Index: 101.68 +0.27
Gold: $4,028.80 -$120.60
Bitcoin: 61,386 -945
Crude Oil: $69.99 -$3.23
DJIA: 51,724 +57
NASDAQ: 25,650 +63
S&P 500: 7386 +20
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.