CHM Blog

The FOMC meeting begins today. No rate increase at this meeting but the outlook for a 25 bp increase at the December FOMC meeting is likely, the prime focus is what Fed chair Warsh will say at his press conference tomorrow afternoon.

September durable goods orders at 8:30 am thought to be +1.4%, increased 1.8% month/month; ex transportation orders up 0.5% against forecasts of +0.6%.

At 9 am ET August Case/Shiller home price index expected +0.3%, reported +0.3%; year/year 20 city expected at +2.6%, increased 2.7%.

September new home sales forecasts 651K, sale at 676.

At 10 am the October Conference Board’s consumer confidence, expected to have declined from 81.9 in September to 80.4. The Conference Board Consumer Confidence Index rose by 7.5 points to 91.7 in October, up from 84.2 in September (a slight upward revision). The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased by 8.6 points to 120.4. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—recovered by 6.9 points to 72.6, only partially reversing three consecutive monthly declines. The survey period for this month’s preliminary results was October 1-21.

PRICES @ 10:00 AM

10 year note: 5.00% +1 bp

5 year note: 4.85% +2 bp

2 year note: 4.75% +4 bp

30 year bond: 5.31% +1 bp

30 year FNMA 6.5: @9:30 am 101.42% +3 bp (-1 bp from 9:30 am yesterday)

30 year FNMA 6.0: @9:30 am 99.45 -4 bp (-1 bp from 9:30 am yesterday)

30 year GNMA 6.5: @9:30 am 101.21 unch (unch from 9:30 am yesterday)

Dollar/Yen: 157.83 +0.33 yen

Dollar/Euro: $1.1147 -$0.0026

Dollar Index: 102.24 +0.28

Gold: $4,045 +$6.00

Bitcoin: 80,182 +292

Crude Oil: $101.02 -$0.74

DJIA: 52,282 -80

NASDAQ: 26,266 +97

S&P 500: 7688 +11

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.