March 19th, 2025 12:07 PM by Richard Sardella MLO.100007700/NMLS 233568
Rates began unchanged this morning ahead of FOMC and Powell this afternoon.
MBA mortgage applications lower, the total apps -6.2% after increasing 11.2% the week before, purchase applications increased 0.1% after jumping 7.0% while refinance apps slipped 12.8% from +16.2% the prior week. Over the last two weeks the cumulative increase +37%.
Nothing on the calendar now until the FOMC at 2 pm ET and Powell at 2:30 pm. Beside the usual policy statement that is usually convoluted with what ifs, the Fed will release its quarterly forecasts for employment, inflation, and GDP growth for the next two years. The Fed, like everyone else is in a quandary about the immediate outlook. Even the fed’s projections this time are less reliable with US economic outlook clouded by results of tariffs.
At 9:30 am the DJIA opened +62, NASDAQ +99, S&P +18. 10 year at 9:30 am 4.30% +1 bp. FNMA 6.0 30 year coupon at 9:30 am -5 bps from yesterday’s close and +9 bps from 9:30 am yesterday.
PRICES @ 10:00 AM
10 year note: 4.31% +2 bp
5 year note: 4.12% +4 bp
2 year note: 4.09% +5 bp
30 year bond: 4.60% +2 bp
30 year FNMA 6.0: @9:30 am 101.35 -5 bp (+9 bp from 9:30 am yesterday)
30 year FNMA 6.5: @9:30 am 102.99 +3 bp (+14 bp from 9:30 am yesterday)
30 year GNMA 6.0: @9:30 am 101.18 -3 bp (-3 bp from 9:30 am yesterday)
Dollar/Yen: 149.99 +0.77 yen
Dollar/Euro: $1.0897 -$0.0049
Dollar Index: 103.65 +0.40
Gold: $3,037.40 -$3.40
Bitcoin: 83,899 +1633
Crude Oil: $66.70 -$0.20
DJIA: 41,8.01 +220
NASDAQ: 17,655 +149
S&P 500: 5650 +35
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.