CHM Blog

This week is thin on key economic news, this morning September housing starts were substantially lower than forecasts, at 1.221 million with estates at 1.305 million and down from 1.228 million in August. Single-family housing starts fell 4.6% to 859,000, their lowest level in a year, while multi-family starts dropped 7.2% to a four-month low of 349,000. Regionally, starts declined sharply in the West (-23.2% to 235,000) and Midwest (-19.0% to 158,000), were unchanged in the Northeast at 114,000, and rose 6.1% in the South to 714,000

Building permits were better than estimates at 1.400 million with forecasts at 1.387 million. Starts fell 5.2% month/month, the third month of decline and the weakest since May. Single-family permits fell 4% to 845,000, while permits for buildings with five or more units rose 5.9% to 503,000. Regionally, permits fell in the West (-10.2% to 283,000), but rose in the Northeast (13.3% to 145,000), the Midwest (0.5% to 213,000), and the South (1.5% to 759,000).

High volatility in crude oil prices this morning, at one point its price was at $110.00/barrel, $6.00 higher than yesterday, the price has declined back to +$1.67.

At 10 am ET September pending home sales were expected unchanged from August, sales fell 7.3% month/month.

There isn’t any major news on the mid-east this morning.

PRICES @ 10:00 AM

10 year note: 5.11% -3 bp

5 year note: 4.92% -2 bp

2 year note: 4.77% -1 bp

30 year bond: 5.43% -4 bp

30 year FNMA 6.5: @9:30 am 101.08 +13 bp (+3 bp from 9:30 am yesterday)

30 year FNMA 6.0: @9:30 am 98.82 +10 bp (-2 bp from 9:30 am yesterday)

30 year GNMA 6.5: @9:30 am 100.77 +5 bp (+1 bp from 9:30 am yesterday)

Dollar/Yen: 157.91 -0.61 yen

Dollar/Euro: $1.1237 +$0.0024

Dollar Index: 101.69 -0.30

Gold: $4,149 -$11

Bitcoin: 81,544 -203

Crude Oil: $105.33 +$1.67

DJIA: 52,402 +436

NASDAQ: 26,375 -56

S&P 500: 7707 +16

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.