Generally Exciting, But Specifically Boring Heading into the...
Generally Exciting, But Specifically Boring Heading into the present week, it was incredibly unlikely that we'd see any exciting volatility in the bond market this week. At the very least, we knew that it was really only Friday's PCE data that carried any notable volatility potential. With 4 days down, the "boring" narrative has prevailed. Like every other day this week, Thursday saw mild movement and low volatility with very little connection between events and market movement. But as it happens, the mild movements have all been in the same direction this week, and they're starting to add up. To wit: 10yr yields just hit their lowest 3pm CME close since August 4th and the 2nd lowest since April. MBS are doing even better and mortgage rates reflect that. Econ Data / EventsJobless Claims 229.0K vs 230K f'cast, 235K prev Continued Claims 1954.0K vs 1970K f'cast, 1972K prev Core PCE Prices QoQ FinalQ22.5% vs 2.6% f'cast, 3.5% prev Corporate profitsQ22.0% vs -3.3% prev GDPQ23.3% vs 3.1% f'cast, -0.5% prev GDP deflatorQ22.% vs 2% f'cast, 3.8% prev GDP Final SalesQ26.8% vs 6.3% f'cast, -3.1% prev Market Movement Recap09:29 AM Flat overnight and little changed since data. MBS down 1 tick (.03) and 10yr up less than half a bp at 4.24 12:32 PM Best levels of the day heading into 7yr auction. 10yr down 2.2bps at 4.213. MBS up 1 tick (.03). 03:37 PM Mostly flat in PM hours. MBS still up 1 tick (.03) and 10yr down 2.2bps at 4.213
Generally Exciting, But Specifically Boring Heading into the present week, it was incredibly unlikely that we'd see any exciting volatility in the bond market this week. At the very least, we knew that ... (read more)
There is no singular, official primary source for mortgage rate levels. The going rate is whatever can be locked/closed at any given lender. As such, we rely on surveys and data aggregations in order to routinely monitor the probable going rate. ... (read more)
“Remember how when you were little you could just rip off your diaper and run around naked and everyone thought it was so cute and funny? Anyway, I need bail money.” Money makes the world go ‘round. Fed President Lisa Cook was fired earlier this week... (read more)
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.
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