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Daily Market Analysis October 27, 2021

October 27th, 2021 9:49 AM by Richard Sardella MLO.100007700/NMLS 233568


Daily Market Analysis

At 8 am the 10 1.58% -3 bps; MBS prices began the day +8 bps from yesterday.

Weekly MBA mortgage apps last week; the composite +0.3%, purchase apps +4.0% while re-finance apps declined 0.2%.

Sept durable goods orders at 8:30 am; expected -0.9%, down just 0.4%, Sept orders revised from +1.8% to +1.3%. Ex transportation estimates were +0.5%, as reported +0.4%. Core capital goods orders increased 0.8% against forecasts of +0.4%. The initial reaction didn’t move the market, the 10 at 9 am 1.58%.

Democrats still working on spending bill that will pass in the Senate; any bill will need all 50 Democrats to pass with Harris voting to break a tie. Sen. Kyrsten Sinema and Joe Manchin are the keys, both have to fall in line. Sinema won’t go for tax increases on corporations, Manchin doesn’t like to $2 trillion total spending.

At 9:30 am the DJIA opened +35, NASDAQ +51 S&P +5. 10 yr. 1.57% -4 bp. FNMA 2.5 30 yr. coupon at 9:30 am +14 bps from yesterday’s close and +29 bps from 9:30 am yesterday.

At 1 pm Treasury will auction $61B of 5 yr. notes; yesterday’s 3 yr. auction met with strong demand.

Interest rates are slipping lower, the 10 down 10 bps since last Friday. The stock indexes look wobbly, earnings reports have generally been favorable yet looks like the earnings gains may have been fully discounted by investors. No change in the inflation outlooks, most forecasts are inflation will continue through 2022, even the Fed has changed its tune about the outlook.

PRICES @ 10:00 AM ET

10 yr. note: 1.57% -4 bp

5 yr. note: 1.17% -1 bp

2 Yr. note: 0.49% +2 bp

30 yr. bond: 1.99% -5 bp

Libor Rates: 1 mo. 0.087%; 3 mo. 0.136%; 6 mo. 0.176%; 1 yr. 0.323% (10/26/21)

30 yr. FNMA 3.0: @9:30 am 104.36 +5 bp (+6 bp from 9:30 am yesterday)

30 yr. FNMA 2.5: @9:30 am 102.63 +14 bp (+29 bp from 9:30 am yesterday)

30 yr. GNMA 2.5: @9:30 am 102.41 -11 bp (+21 bp from 9:30 am yesterday)

Dollar/Yuan: $6.3913 +$0.0083

Dollar/Yen: 113.45 -0.71 yen

Dollar/Euro: $1.1620 +$0.0024

Dollar Index: 93.83 -0.12

Gold: $1797.70 +$4.30

Bitcoin: 59,068 -3,000

Crude Oil: $83.63 -$1.02

DJIA: 35,811 +54

NASDAQ: 15,307 +72

S&P 500: 4579 +5

About Richard Sardella

Richard Sardella has been actively managing and providing services in the mortgage industry for over 27 years. Richard serves on the board of directors as President of Colorado Home Mortgages Inc.

About This Report And Disclosure Information

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.

Posted by Richard Sardella MLO.100007700/NMLS 233568 on October 27th, 2021 9:49 AM

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