Skittish Over Data and Central Bankers

Skittish Over Data and Central Bankers With no relevant market movers on the US calendar today, it was notable to see just how willing the bond market was to react to overseas data. Specifically, inflation came in hotter in Spain. This sent European yields sharply higher overnight and US yields followed at a bit less than half the pace. While we wouldn't say the pace was extreme, it was nonetheless surprising relative to the motivation. It's an important reminder about how skittish bonds may be as the week progresses with bigger ticket data and central bank announcements. Econ Data / EventsNo significant scheduled data Market Movement Recap08:50 AM Weaker overnight after Spanish inflation data. Stronger so far in US trading. 10yr still up 3.5bps at 3.542. MBS down a quarter point. 10:41 AM Sideways and choppy since the start of US trading, but still weaker on the day. 10yr up 3.7bps at 3.544. MBS down 10 ticks (.31). 02:10 PM Still sideways. Trading levels right in line with last update. 04:09 PM Some MBS-specific weakness now, partly fueled by illiquidity. 4.5 and 5.0 coupons both down just over 3/8ths of a point and roughly 6 ticks (.19) from intraday highs. 10yr still in the 3.54% range.

January 30, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary Skittish Over Data and Central Bankers Skittish Over Data and Central Bankers With no relevant market movers on the US calendar today, it was notable to see just how willing the bond market was to react to overseas data. Specifically, inflat... (read more) Rob Chrisman Homebuyer Education, RON, Elastic Ops Tools; Conventional Conforming News; STRATMOR on Tech ROI Want to really let someone know that you’re no longer interested in them? For $10 the San Antonio Zoo is offering a special Valentine’s Day greeting for exes who keep bugging you after you part ways: naming a cockroach after your not-so-special someo... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.21% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.21% +0.01 0.00 15 Yr. Fixed 5.27% +0.01 0.00 30 Yr. FHA 5.78% +0.01 0.00 30 Yr. Jumbo 5.70% 0.00 0.00 5/1 ARM 6.27% +0.02 0.00 30 Yr. VA 5.85% +0.02 0.00 Updates Daily - Last Update: 1/30 15 Yr. Fixed Rate 5.27% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.13% -0.02 0.00 15 Yr. Fixed 5.17% -0.11 0.00 Updates Weekly - Last Update: 1/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.23% -0.19 0.67 15 Yr. Fixed 5.58% -0.36 0.54 30 Yr. Jumbo 6.08% -0.01 0.40 Updates Weekly - Last Update: 1/18 MBS / Treasuries UMBS 30YR 5.0 100.09 -0.27 Price / Yield Change MBS UMBS 5.0 100.09 -0.27 UMBS 5.5 101.38 -0.13 GNMA 5.0 100.39 -0.30 GNMA 5.5 101.44 -0.05 Pricing as of: 1/30 5:31PM EST 10 Year US Treasury 3.5403 +0.0333 Price / Yield Change US Treasury 2 YR Treasury 4.240 +0.039 5 YR Treasury 3.664 +0.052 7 YR Treasury 3.609 +0.043 10 YR Treasury 3.540 +0.033 30 YR Treasury 3.654 +0.028 Pricing as of: 1/30 5:31PM EST Latest Video Former Atlanta Fed President Dennis Lockhart breaks down Fed's looming rate... I'd be shocked if Fed did anything other than 25 bps hike, says Mohamed El-... Annual home price appreciation and rent growth continue to slow, says Cortl... Central banks around the world are dialing back rate increases, says Contra... Around the Web Eye on Housing Housing Affordability Goes South Calculated Risk Blog Lawler: D.R. Horton (DHI) Net Order Price Declined "Roughly" 10% from Peak Calculated Risk Blog Fannie Mae: Mortgage Serious Delinquency Rate Increased Slightly in December Reuters Euro zone bond yields jump after hot Spanish inflation data CNBC Treasury bonds rise as investors look to Fed meeting Calculated Risk Blog Housing January 30th Weekly Update: Inventory Decreased 1.4% Week-over-week Calculated Risk Blog Has Housing "Bottomed"? Calculated Risk Blog Realtor.com Reports Weekly Active Inventory Up 69% YoY; New Listings Down 5% YoY CNBC Rent prices have dropped the most in these 5 U.S. metros. Why it's cheaper to rent than buy in many markets CNBC Key Fed inflation measure eased in December while consumer spending also declined Eye on Housing Buyers Expect Less Housing Availability CNBC Insana says theres more evidence of slowing inflation and other central banks are noticing Calculated Risk Blog NAR: Pending Home Sales Increased 2.5% in December, Year-over-year Down 33.8%

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