Published Date 5/10/2024
Yesterday rates got a boost on weekly jobless claims hitting a nine-month high and the 30 year bond auction met with strong demand. The 10 year note -4 bps, MBS prices +18 bps. This morning the 10 at 9 am +3 bps and MBS prices -15 bps. This week the economic calendar was almost non-existent, weekly claims yesterday and this morning the University of Michigan consumer sentiment report at 10 am ET.
The economy, based on a couple of recent reports, is slowing. Both the Conference Board’s consumer confidence index and the final April University of Michigan sentiment index showed a marked decline in consumers’ thinking. A little more than anecdotal but neither have inflation reports. That comes next Tuesday and Wednesday when April PPI (Tuesday) and CPI (Wednesday). Next week’s calendar has a lot of key data after this week’s lack of news and treasuries trading in narrow ranges.
At 9:30 am the DJIA opened +95, NASDAQ +34, S&P +13. 10 year at 9:30 am 4.49% +3 bps. FNMA 6.0 30 year coupon -13 bps from yesterday’s close and +13 bps from 9:30 am yesterday; the 6.5 coupon -9 bps from yesterday’s close and+9 bps from 9:30 am yesterday.
At 10 am the University of Michigan consumer sentiment index thought to be at 77.0 from 77.2 two weeks ago, the index dropped to 67.4. More evidence that consumers are getting edgy.
This afternoon at 2 pm Treasury will report the April deficit, expected at -$236.0B unchanged from March.
Did you know there are grants and assistance for first time home buyers? First-time homebuyers are eligible for a variety of public and private grants. Most government agencies and financial institutions consider anyone who hasn’t bought or owned a principal residence in the last three years a first-time homebuyer. While some grants are marketed toward first-time homebuyers, existing homeowners may be eligible for many programs. Exact eligibility standards vary greatly, however. Most require the property to be your primary residence, and many have income and home price limits. The grants may also be limited to certain cities or a select list of properties. To ensure you can access all the programs you’re eligible for, ask your lender about grant options before you apply for a mortgage.
Source: TBWS
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.
American Home Lending USA, LLC - NMLS ID: 71983. To verify licensing, visit NMLS Consumer Access (www.nmlsconsumeraccess.org). Equal Housing Lender.
NMLS: 19488
American Home Lending USA, LLC
240 S Buchanan St, Edwardsville IL 62025
Company NMLS: 71983
Office: 618-310-0091
Cell: 618-806-2281
Email: jbeck@ahlusa1.com
NMLS: 19488
Cell: 618-806-2281
6/14/2024
When the scale of your furniture reflects IKEA instead of...... view more
6/14/2024
At 8:30 am ET more good news on May imports and export prices. Imports expected ... view more
6/13/2024
The May headline Producer Price Index (PPI) contracted by -0.2% versus estimates... view more
6/12/2024
Pickleball. The sport became a thing in the summer of 1965, when its founders...... view more
6/10/2024
Price per square foot. It’s a measure used mostly in the construction industry. ... view more
6/10/2024
These are the three areas that have the greatest ability to impact rates this we... view more
6/7/2024
Buying a house is the biggest expenditure any of us will ever make. The prospect... view more
6/7/2024
The reaction to this morning’s May employment report drove the 10 year note to 4... view more
6/6/2024
The May Challenger Grey Job Cuts were 63,816 which was pretty much the same pace... view more