November 6th, 2026 1:20 PM by Richard Sardella MLO.100007700/NMLS 233568
Early trade in stock indexes was mixed, the DJIA continued to fall while the NASDAQ and S&P were better.
Volatility continues as markets assess the mid-terms.
October employment this morning, yet another surprise, the increase in jobs compared to estimates. There are more jobs, not just in October but the September jobs revised higher. The unemployment rate declined to 4.1%, monthly and annual earnings better than expected. With markets continuing to focus on election returns there wasn’t much movement, but it does give the Fed additional reason to think a rate hike in December. The 3.1% year-over-year growth in average hourly earnings is below the latest CPI and PCE inflation rates of 3.7% and 3.6%, respectively, so workers' wages are not keeping up with inflation.
At 10 am University of Michigan consumer sentiment, it was a little better than expected.
PRICES @ 10:00 AM
10 year note: 4.89% +5 bp
5 year note: 4.68% +8 bp
2 year note: 4.56% +9 bp
30 year bond: 5.28% +2 bp
30 year FNMA 6.5: @9:30 am 101.88 -11 bp (+7 bp from 9:30 am yesterday)
30 year FNMA 6.0: @9:30 am 100.25 -10 bp (+18 bp from 9:30 am yesterday)
30 year GNMA 6.5: @9:30 am 101.73 -5 bp (+14 bp from 9:30 am yesterday)
Dollar/Yen: 158.44 +0.76 yen
Dollar/Euro: $1.1147 -$0.0073
Dollar Index: 102.26 +0.71
Gold: $4.044 -$69.00
Bitcoin: 75,652 -406
Crude Oil: $90.51 unch
DJIA: 51,411 -112
NASDAQ: 24,780 +465
S&P 500: 7430 +76
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.