CHM Blog

This morning the MBS market has seen some volatility.

Being Thursday weekly jobless claims is normally reported, not today though. The estimates by economists and analysts are 232K claims, up from 229K estimated for the previous week.

No progress in Congress and it appears more likely it will continue.

Here are the estimates for tomorrow’s September CPI release: Overall month/month +0.4% unchanged from August, year/year +3.1% up from 2.9% in August; core (ex food and energy) month/month +0.3% unchanged from August, year/year 3.1% unchanged from August. Any deviation from the forecasts will increase volatility; the obvious question is the direction. Markets already have priced in the 25 bp cut at next week’s FOMC meeting, there is still some hope for more cuts this year but so far but its mostly assumptions.

At 9:30 am the DJIA opened -23 after dropping 334 yesterday, NASDAQ opened +11, S&P +5. 10 year note at 9:30 am 3.99% +4 bps. FNMA 5.5 30 year coupon ant 9:30 am -5 bps from yesterday’s close and -2 bps from 9:30 am yesterday.

At 10 am September existing home sales expected at 4.06 million from 4.00 million in August; reported at 4.06 million.

Crude oil prices increasing today.

PRICES @ 10:00 AM

10 year note: 3.99% +4 bp

5 year note: 3.59% +3 bp

2 year note: 3.48% +3 bp

30 year bond: 4.57% +4 bp

30 year FNMA 5.5: @9:30 am 101.24 -5 bp (-2 bp from 9:30 am yesterday)

30 year FNMA 6.0: @9:30 am 102.38 -3 bp (-2 bp from 9:30 am yesterday)

30 year GNMA 5.5: @9:30 am 101.00 -4 bp (+1 bp from 9:30 am yesterday)

Dollar/Yen: 152.71 +0.74 yen

Dollar/Euro: $1.1603 -$0.0007

Dollar Index: 98.98 +0.09

Gold: $4,153.60 +$91.20

Bitcoin: 109,611 +1755

Crude Oil: $61.34 +$2.79

DJIA: 46,623 +33

NASDAQ: 22,854 +114

S&P 500: 6723 +24

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.