Published Date 9/20/2023
At 9 am ET the 10 yield at 4.33% -3 bps, MBS prices +14 bps.
At 9:30 am the DJIA opened +66, NASDAQ +11, S&P +8. 10 year note 4.33% -3 bp. FNMA 6.0 30 year coupon at 9:30 am +15 bps from yesterday’s close and +3 bps from 9:30 am yesterday.
Weekly MBA mortgage applications this morning increased; the composite +5.4%, purchase apps +2.3% and refinances jumped 13.2% from the prior week. Mortgage applications increased last week. Purchase apps -26% year/year, refinances -29% year/year. The refinance share of mortgage activity increased to 31.6% of total applications from 29.1% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 7.2% of total applications.
Look for quiet now until 2 pm through 3:30 pm when volatility will occur, digesting the policy statement and Powell’s press conference. The Federal Open Market Committee will keep rates steady at its meeting in a range of 5.25% to 5.5%, a 22-year high. The rate decision and committee forecasts will be released at 2 pm in Washington. Chair Jerome Powell will hold a press conference 30 minutes later. The increase in food and energy costs, usually ignored by the Fed is going to get questions for Powell this afternoon.
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.
NEXA Mortgage, LLC (NMLS #1660690) 3100 W Ray Rd 201, Suite 209, Chandler, AZ 85226 (www.nmlsconsumeraccess.org); Equal Housing Opportunity
NMLS: 1492315
NEXA Mortgage
3100 W Ray Rd 201 Suite 209, Chandler AZ 85226
Company NMLS: #1660690
Office: 202-352-5625
Cell: 202-352-5625
Email: smoon@nexamortgage.com
NMLS: 1492315
Cell: 202-352-5625
5/15/2024
Traders and markets waited two weeks for current inflation data, yesterday April... view more
4/22/2024
Click the link; buy a sofa. Click on another; buy a pergola for your backyard...... view more
4/22/2024
These are the three areas that have the greatest ability to impact rates this we... view more
3/28/2024
They say what goes up must come down. Buying, rehabbing, and reselling homes for... view more
3/13/2024
Yesterday in reaction to the slightly higher inflation reported on the February ... view more
3/12/2024
That geodesic dome you see along the edge of the freeway or the house shaped lik... view more
3/7/2024
It’s obvious that when homebuyers prefer to buy in a well-established neighborho... view more
3/4/2024
Ever heard that joke about how you can buy a 5-course steak dinner in Podunk for... view more