July 29th, 2026 8:52 AM by Richard Sardella MLO.100007700/NMLS 233568
After a few days with no military action Iran surprised with attacks on US military forces in the mid-east.
Crude oil prices after declining the few days are increasing this morning, WTI price at 9 am ET +$5.21/barrel. MBS prices down 13 bps from yesterday.
The FOMC this afternoon at 2 pm, Fed chief Kevin Warsh’s press conference at 2:30 pm. Warsh has made it clear US inflation has to come down close to 2.0%, presently at 3.4%. Traders and investors agree the Fed is going to increase the FF rate; the question is when. Some believe it could happen today although most looking for the increase at the September FOMC meeting.
Weekly MBA mortgage applications last week fell by 6.4% from the previous week on the period ending July 24th. Applications to refinance a mortgage fell by 9.9% from the previous week. Applications for a mortgage to buy a new home fell by 3.6%.
Markets will likely be quiet now until 2 pm when the FOMC statement is released and at 2:30 pm Warsh’s press conference.
PRICES @ 10:00 AM
10 year note: 4.63% +2 bp
5 year note: 4.39% +2 bp
2 year note: 4.31% +2 bp
30 year bond: 5.10% +1 bp
30 year FNMA 6.0: @9:30 am 101.29 -13 bp (-5 bp from 9:30 am yesterday)
30 year FNMA 5.5: @9:30 am 99.36 -14 bp (-3 bp from 9:30 am yesterday)
30 year GNMA 6.0: @9:30 am 101.70 -8 bp (-6 bp from 9:30 am yesterday)
Dollar/Yen: 163.75 -0.12 yen
Dollar/Euro: $1.1392 +$0.0005
Dollar Index: 101.41 unch
Gold: $4,01220 -$26.50
Bitcoin: 64,407 +599
Crude Oil: $84.28 +$5.02
DJIA: 52,141 -606
NASDAQ: 24,727 -150
S&P 500: 7398 -31
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.