Bonds Confirm The Breakout, But There Are 2 Ways to Play It Today offers firm confirmation of the range breakout we'd been hoping to see this week.  These sorts of breakouts are positive signals in the bigger picture, but risk-averse rate watchers can use them as early warning signs for short-term shifts.  Today's video discusses this in greater detail. Econ Data / Events 20min of Fed 30yr UMBS Buying  10am, 1130am (M-F) and 1pm (T-Th) ADP Employment 428k vs 950k f'cast, 212k prev Market Movement Recap 08:16 AM Bonds were modestly weaker overnight, but domestic buyers got an early start around 6:30am.  With another slight boost from weak ADP data, Treasuries just turned positive and MBS are effectively unchanged. 11:03 AM Gains extending a bit now, with more friendly Fed-speak, this time from Williams.  10yr yields down 1.6bps on the day to .66% and 2.0 UMBS up 2 ticks (0.06) at 103-11 (103.34). 01:28 PM Comments from Fed speakers have generally been supportive.  Bonds hit their best levels just before noon and have pulled back a bit since then.  The bounce coincides with stock market strength.  10yr yields still down 2.3bps on the day at .649.  UMBS 2.0 still up 2 ticks (0.06) at 103-11 (103.34).

September 2, 2020 Download our Mobile App: Download our Mobile App: MBS Commentary MBS Live Recap: Bonds Confirm The Breakout, But There Are 2 Ways to Play It Bonds Confirm The Breakout, But There Are 2 Ways to Play It Today offers firm confirmation of the range breakout we'd been hoping to see this week.  These sorts of breakouts are positive signals in the b... (read more) Mortgage Rate Watch Here's Why Mortgage Rates Are Outperforming For most lenders, mortgage rates improved again today, adding to the 3-week lows achieved yesterday. We normally view mortgage rate movement primarily as a function of the bond market, but the bond market says rates should only be falling modestly fr... (read more) Rob Chrisman Marketing, Income, Onboarding, HECM Tools; Jumbo, Non-QM, Misc. Product Updates; DIY Appraisals I don’t know whether my Nolan Ryan rookie card, fortuitously spared from my bike spokes decades ago, is worth $500 or the 10 cents I spent for the pack (with gum!). Values (and worth) can be tricky things. Look at the value of rentals with the ... (read more) Housing News Mortgage Applications Decline for Third Week Mortgage applications, both for home purchase and refinancing, declined for the third straight time during the week ended August 28. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of loan application volume, lost 2.... (read more) Housing News More Evidence For Mass Exodus To The 'Burbs It has been rumored since the first wave of the coronavirus struck in some of the densely populated urban centers, especially in New York and New Jersey. Now, however, there is substantiation of a population shift from the National Association of Hom... (read more) Housing News Construction Spending Report Saved by Multi-Family Sector Construction spending as a whole was essentially flat in July, but residential spending showed significant growth. The U.S. Census Bureau reported that total expenditures from both public and private sources were at a seasonally adjusted annual rate ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.72 +0.08 Price / Yield Change MBS UMBS 5.5 99.74 +0.09 UMBS 6.0 101.53 +0.09 GNMA 5.5 99.93 +0.08 GNMA 6.0 101.42 +0.08 Pricing as of: 7/6 10:26PM EST 10 Year US Treasury 4.3339 -0.0128 Price / Yield Change US Treasury 2 YR Treasury 3.855 -0.028 5 YR Treasury 3.911 -0.026 7 YR Treasury 4.102 -0.023 10 YR Treasury 4.330 -0.017 30 YR Treasury 4.860 -0.003 Pricing as of: 7/6 10:26PM EST Latest Video Rising instances of furloughed workers being laid off permanently: Fed Beig... Fed's latest Beige Book will not surprise market: Morgan Stanley's Kathy En... Factory orders jump 6.4% in July Florida pending home sales jump as housing market heats up Around the Web Calculated Risk Blog Technical Note on Weekly Unemployment Claims Brookings Institution What do changes in the Fed's longer-run goals and monetary strategy statement mean? CNBC CDC issues sweeping temporary halt on evictions. Here's what that means for renters Calculated Risk Blog U.S. Heavy Truck Sales down 26% Year-over-year in August CNBC Manhattan apartment deals fall 31% while sales boom in the suburbs NAHB Eye on Housing Construction Loan Volume Contracts During 2Q20 CNBC Private payrolls grow by 428,000 but miss expectations, ADP report says CNBC Treasury yields move higher ahead of employment data and Beige Book report CNBC U.S. financial firms make inroads into the Chinese market NAR - Realtor.com Monthly Rental Prices Nosedive in New York and San Francisco: How Low Can They Go? CNBC Today is the first day of the payroll tax deferral. It's complicated, here's what we know CNBC U.S. economy needs over $1 trillion in fresh coronavirus stimulus, says world's biggest hedge fund CNBC Job growth expected to slow sharply over the next decade, Labor Department says

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