Bonds Unfazed by Econ Data If you had to guess at the bond market's response this morning based solely on the outcome of the 8:30am economic data, you'd be very well justified in assuming some selling/weakness. While that may have been the case for a few moments, it was quickly replaced by bond buying as traders parsed the Retail Sales internals, revisions, and especially the inflation-adjusted spending implications. In a nutshell, the report showed an ongoing downtrend in discretionary consumer spending and that ended up being the trade of the day--even if it wasn't a super huge trade. This was enough to keep bonds in positive territory for most of the day, despite an afternoon correction back to unchanged levels. Econ Data / EventsRetail Sales0.6 vs 0.1 f'cast, -0.9 prev Core Retail Sales0.5 vs 0.3 f'cast, 0.2 prev last month revised from 0.4 Import prices 0.1 vs 0.3 last month revised to -0.4 from 0.0 Jobless Claims221k vs 235k f'cast, 228k prev Continued Claims1956k vs 1970k f'cast, 1954k prev Philly Fed 15.9 vs -1 f'cast, -4.0 prev Market Movement Recap08:39 AM 10yr yields are up 1bp at 4.468. MBS are down 2 ticks (.06) 09:34 AM In positive territory now with MBS up 2 ticks (.06) and 10yr down 1.9bps at 4.44 02:11 PM MBS back to unchanged on the day and down an eighth from highs. 10yr up half a bp at 4.463
| MBS Commentary | | Bonds Unfazed by Econ Data | | Bonds Unfazed by Econ Data If you had to guess at the bond market's response this morning based solely on the outcome of the 8:30am economic data, you'd be very well justified in assuming some selling/weaknes... (read more) |
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| Mortgage Rate Watch | | Mortgage Rates Staying Broadly Sideways | | Despite all of the economic data and news headlines over the past few days, mortgage rates have barely budged since last Friday. That was not what we expected this week given the anticipation for the inflation reports that came out on Tuesday and Wed... (read more) |
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| 30 Yr. Fixed Rate | | 6.82% -0.01% |
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| Rate | Change | Points |
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| Mortgage News Daily | | 30 Yr. Fixed | 6.82% | -0.01 | 0.00 | | 15 Yr. Fixed | 6.07% | -0.01 | 0.00 | | 30 Yr. FHA | 6.40% | -0.01 | 0.00 | | 30 Yr. Jumbo | 6.92% | -0.01 | 0.00 | | 7/6 SOFR ARM | 6.31% | -0.01 | 0.00 | | 30 Yr. VA | 6.42% | 0.00 | 0.00 | | Updates Daily - Last Update: 7/17 |
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| 15 Yr. Fixed Rate | | 6.07% -0.01% |
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| Rate | Change | Points |
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| Freddie Mac | | 30 Yr. Fixed | 6.75% | +0.03 | 0.00 | | 15 Yr. Fixed | 5.92% | +0.06 | 0.00 | | Updates Weekly - Last Update: 7/17 |
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| Mortgage Bankers Assoc. | | 30 Yr. Fixed | 6.77% | -0.02 | 0.62 | | 15 Yr. Fixed | 6.04% | -0.02 | 0.63 | | 30 Yr. Jumbo | 6.69% | -0.09 | 0.65 | | Updates Weekly - Last Update: 7/9 |
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| Price / Yield | Change |
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| MBS | | UMBS 5.5 | 99.12 | +0.05 | | UMBS 6.0 | 101.11 | +0.04 | | GNMA 5.5 | 99.37 | -0.09 | | GNMA 6.0 | 101.11 | -0.05 | | Pricing as of: 7/17 5:31PM EST |
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| 10 Year US Treasury | | 4.4543 -0.0050 |
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| Price / Yield | Change |
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| US Treasury | | 2 YR Treasury | 3.908 | +0.019 | | 5 YR Treasury | 3.993 | -0.003 | | 7 YR Treasury | 4.212 | -0.001 | | 10 YR Treasury | 4.454 | -0.005 | | 30 YR Treasury | 5.010 | -0.004 | | Pricing as of: 7/17 5:31PM EST |
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