May 7th, 2026 8:42 AM by Richard Sardella MLO.100007700/NMLS 233568
Optimism continues that the US and Iran will agree to open the Strait of Hormuz, crude oil dropped $7.00 dollars yesterday, early this morning down another $3.00. US stock indexes yesterday set more new high records, this morning in futures trading prior to the 9:30 am ET open the indexes generally flat.
There are a couple of economic releases today, although traders are totally focused on Iran.
Weekly jobless claims last week were thought to be 205K after falling to 189K, the biggest drop since the data began. Claims reported at 200K and no revisions to the prior week. Continuing claims, a proxy for outstanding unemployment in the US, fell by 10,000 to 1,766,000 on the week ending April 25th, the lowest in over two years and contrasting with expectations of an increase to 1,800,000. The labor market still holding well.
Q1 2026 preliminary productivity and unit labor costs; productivity expected +1.7%, increased just 0.8%. Unit labor costs increased 2.3% with forecasts of +2.6%.
PRICES @ 10:00 AM
10 year note: 4.34% -1 bp
5 year note: 3.98% -2 bp
2 year note: 3.86% -1 bp
30 year bond: 4.94% unch
30 year FNMA 5.5: @9:30 am 100.79 +7 bp (+19 bp from 9:30 am yesterday)
30 year FNMA 6.0: @9:30 am 102.25 +8 bp (+15 bp from 9:30 am yesterday)
30 year GNMA 5.5: @9:30 am 100.83 -4 bp (+3 bp from 9:30 am yesterday)
Dollar/Yen: 156.34 -0.06 yen
Dollar/Euro: $1.1776 +$0.0027
Dollar Index: 97.85 -0.18
Gold: $4,760.70 $66.40
Bitcoin: 80,700 -768
Crude Oil: $91.16 -$3.92
DJIA: 49,881 -29
NASDAQ: 25,900 +61
S&P 500: 7262 -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.