CHM Blog

Yesterday the 10 year note was down 2 more basis points, MBS prices +6 basis points on the day. This morning a push higher with inflation looming on Friday.

The focus now is on Friday’s September Consumer Price Index inflation report by the Bureau of Labor Statistics.

Estimates for September CPI. Headline CPI is expected to have increased 0.4% month over month and 3.1% year over year. Core CPI is expected to have increased 0.3% month over month and 3.1% year over year. The release was scheduled for October 15th but delayed due to the government shutdown. It is being released specifically to provide the Social Security Administration with information needed for its cost-of-living adjustments.

Weekly mortgage applications slipped by 0.3% from the previous week on the period ending October 17th. The refinance index increased 4%, driven by a 6% increase in conventional refinances and a 12% increase in Federal Housing Administration refinance applications, purchase applications fell 5% on the week.

Gold has run up since the beginning of the year, Monday it closed at $4,386.00. Since Monday’s close the price is down $315.00.

This afternoon at 1 pm the Treasury will auction $13 Billion in 20 year bonds.

Fed speakers are now in their quiet period ahead of the Federal Open Market Committee next Wednesday.

PRICES @ 10:00 AM

10 year note: 3.97% unch

5 year note: 3.57% unch

2 year note: 3.47% +1 bp

30 year bond: 4.55% unch

30 year FNMA 5.5: @9:30 am 101.26 -2 bp (+1 bp from 9:30 am yesterday)

30 year FNMA 6.0: @9:30 am 102.40 +1 bp (+4 bp from 9:30 am yesterday)

30 year GNMA 5.5: @9:30 am 101.99 -1 bp (+2 bp from 9:30 am yesterday)

Dollar/Yen: 151.97 +0.04 yen

Dollar/Euro: $1.1596 -$0.0005

Dollar Index: 99.01 +0.08

Gold: $4,087.80 -$21.30

Bitcoin: 108,178 -3671

Crude Oil: $58.52 +$0.70

DJIA: 46,793 -132

NASDAQ: 22,953 unch

S&P 500: 6735 -1

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.