Uneventful Friday. Thoughts Turning to CPI

Uneventful Friday. Thoughts Turning to CPI Apart from the fact that 10yr Treasury yields are about 25bps higher than they were before last Friday's jobs report, it was an uneventful week for the bond market with only one or two exceptions. The first exception was the exceptionally large amount of corporate bonds that hit the market in the first half of the week. The result was fairly constant upward pressure in rates for no other apparent reason. The 2nd was Wednesday's ISM Services data which added to the upward pressure. Thursday marked a technical correction/recovery and Friday ended up being entirely superfluous. Thoughts are already turning to next week's CPI which occurs one week before a fairly important Fed meeting. Volatility potential would be high anyway, but doubly so in this case as the Fed is in the blackout period ahead of its meeting, thus allowing the market's imagination to run wilder than normal. Econ Data / EventsWholesale Inventories -0.2 vs -0.1 f'cast, -0.7 prev Market Movement Recap09:33 AM Stronger right at the start of the overnight session, weaker in Europe, but bouncing back early. 10yr down 1.8bps at 4.232. MBS up 3 ticks (.09). 12:03 PM steady weakness since 10am. MBS now unchanged and 10yr up 0.2bps at 4.25%. 02:28 PM Slightly weaker into the PM hours, but bouncing now. MBS up 1 tick (0.03) and 10yr back down to 4.25% after rising to 4.264% 04:00 PM Very flat in the PM hours. MBS down 1 tick (0.03) and 10yr yields up 0.6bps at 4.256.

September 8, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary Uneventful Friday. Thoughts Turning to CPI Uneventful Friday. Thoughts Turning to CPI Apart from the fact that 10yr Treasury yields are about 25bps higher than they were before last Friday's jobs report, it was an uneventful week for the bond market w... (read more) Rob Chrisman Housing News, Appraisal, Broker Pricing, LOS to G/L Automation Products; FHA, USDA Program News; Renter Data Inflation and price increases can be widespread and impact many, like gasoline or flour, or can be very specific and impact only a small portion of the population, like guitar strings or limoncello. Continued rent increases impact many, not the least... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.22% -0.07% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.22% -0.07 0.00 15 Yr. Fixed 6.59% -0.08 0.00 30 Yr. FHA 6.74% -0.03 0.00 30 Yr. Jumbo 7.30% -0.03 0.00 5/1 ARM 7.05% 0.00 0.00 30 Yr. VA 6.75% -0.05 0.00 Updates Daily - Last Update: 9/8 15 Yr. Fixed Rate 6.59% -0.08% Rate Change Points Freddie Mac 30 Yr. Fixed 7.12% -0.06 0.00 15 Yr. Fixed 6.52% -0.03 0.00 Updates Weekly - Last Update: 9/7 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.16% +0.07 0.68 15 Yr. Fixed 6.57% +0.06 0.94 30 Yr. Jumbo 7.11% +0.07 0.55 Updates Weekly - Last Update: 8/16 MBS / Treasuries UMBS 30YR 6.0 99.86 -0.03 Price / Yield Change MBS UMBS 6.0 99.86 -0.03 GNMA 6.0 100.13 0.00 Pricing as of: 9/8 5:31PM EST 10 Year US Treasury 4.2580 +0.0080 Price / Yield Change US Treasury 2 YR Treasury 4.991 +0.038 5 YR Treasury 4.398 +0.025 7 YR Treasury 4.350 +0.016 10 YR Treasury 4.258 +0.008 30 YR Treasury 4.330 -0.012 Pricing as of: 9/8 5:31PM EST Latest Video Affordability 'just isn't there' for homebuyers, says Realtor.com's Daniell... The Fed should stop hiking rates this year: Dynasty's Ron Insana Moody's downgrade of U.S. banks ‘surprising,’ says top banking analyst Gera... July final read on wholesale inventories fell by 0.2% Around the Web Calculated Risk Blog CoreLogic: 1.11 million Homeowners with Negative Equity in Q2 2023 CNBC Most first-time homebuyers don't put down 20%, expert says. Here's how much you may need CNBC Apartment rents are on the verge of declining due to massive new supply Calculated Risk Blog The "Home ATM" Stays Mostly Closed in Q2 Marketwatch Chicago Fed's Goolsbee suggests central bank is almost done raising rates Eye on Housing Share of Smaller Lots Hits New Record High Reuters Fed's Logan: Can skip September rate hike, but 'there is work left to do' CNBC U.S. Treasury yields decline as investors consider interest rate policy path Calculated Risk Blog Q3 GDP Tracking: Over 3% Calculated Risk Blog Fed's Flow of Funds: Household Net Worth Increased $5.5 Trillion in Q2 Eye on Housing Decline for AD&C Loan Volume in the Second Quarter CFPB CFPB Report Highlights Role of Big Tech Firms in Mobile Payments Calculated Risk Blog Wholesale Used Car Prices Increased 0.2% in August; Down 7.7% Year-over-year

© 2023 Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: newsletter@newslettercollector.com. Go here to UNSUBSCRIBE from this email.