May 6th, 2026 8:57 AM by Richard Sardella MLO.100007700/NMLS 233568
Crude oil at 9 am ET down $7.61.
ADP reported better private jobs than anticipated, expectations were +85K reported at 109K. Small businesses were the top contributors, adding 65,000 jobs, followed by large companies (+42,000), while medium-sized firms added 2,000.
Last week mortgage applications dropped by 4.4% according to data compiled by the Mortgage Bankers Association. Applications to refinance a mortgage fell by 5%. In turn, applications for a mortgage to purchase a new home fell by 3.7%.
Treasury announced the quarterly refunding needs. $125B of Treasury securities to refund approximately $83.3B of privately-held Treasury notes maturing on May 15, 2026. This issuance will raise new cash from private investors of approximately $41.7B. The securities are: A 3-year note in the amount of $58B, maturing May 15, 2029; A 10-year note in the amount of $42B, maturing May 15, 2036; and A 30-year bond in the amount of $25B, maturing May 15, 2056.
PRICES @ 10:00 AM
10 year note: 4.37% -6 bp
5 year note: 4.02% -6 bp
2 year note: 3.89% -6 bp
30 year bond: 4.95% -4 bp
30 year FNMA 5.5: @9:30 100.61 +26 bp (+27 bp from 9:30 yesterday)
30 year FNMA 6.0: @9:30 102.12 +10 bp (+12 bp from 9:30 yesterday)
30 year GNMA 5.5: @9:30 100.80 +17 bp (+18 bp from 9:30 yesterday)
Dollar/Yen: 156.12 -1.77 yen
Dollar/Euro: $1.1754 +$0.0060
Dollar Index: 97.96 -0.48
Gold: $4,706.70 +$138.20
Bitcoin: 81,868 +255
Crude Oil: $96.299 -$5.98
DJIA: 49,811 +513
NASDAQ: 25,594 +268
S&P 500: 7320 +61
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.