Slow Start to a Potentially Slow Week. Bonds did a good enough job of holding their ground today thus leaving at least half of last week's gains intact.  The past 2 trading days mean Treasuries are shying away from a more aggressive move toward lower yields and instead continue to favor a sideways consolidation.  Things can always change, of course, but there's limited inspiration on the calendar in the coming days with Thursday's ECB announcement being the first thing that really jumps out.  Equities may be interested in a corporate earnings calendar that continues ramping up, but stock/bond correlation has been hit and miss for months. Econ Data / Events Fed MBS Buying  10am, 1130am, 1pm Housing Starts 1.739m vs 1.613m f'cast Building Permits 1.766m vs 1.75m f'cast Market Movement Recap 08:14 AM Bonds started out slightly stronger in Asia but lost ground a few hours into the European session.  10yr yields are now 'unchanged' on the day at 1.59%.  2.5 UMBS are effectively unchanged as well at 103-13 (103.41). 01:21 PM A bit of weakness earlier, followed by a bounce back to unchanged levels.  10yr yields are rising modestly again now, currently up 1.3 bps to 1.603.  UMBS 2.5 coupons are still unchanged at 103-12 (103.375).   02:55 PM Treasuries remain modestly weaker, but have managed to hold a flat trajectory after a bit of weakness at 1pm.  10yr yields are up less than 1bp at 1.599%.  2.5 UMBS are up 1 tick (0.03) at 103-13 (103.41).

April 19, 2021 Download our Mobile App: Download our Mobile App: MBS Commentary MBS Live Recap: Slow Start to a Potentially Slow Week. Slow Start to a Potentially Slow Week. Bonds did a good enough job of holding their ground today thus leaving at least half of last week's gains intact.  The past 2 trading days mean Treasuries are shyin... (read more) Housing News Draft Housing Infrastructure and Assistance Bill Presented to FSC The House Committee on Financial Services (FSC) held a virtual hearing last week on ways to provide equitable and affordable housing infrastructure. The memorandum setting out the hearing's purpose stated that, not only is affordable housing a crucia... (read more) Rob Chrisman MLO Jobs; Sales, Jumbo, Purchase Products; Events and Training in the Next Few Weeks As lenders are wondering who will be the next merger or acquisition announcement (news of the Sterling Bancorp and Webster Financial came out this morning), and there will be someone next, do you think your company will last forever? Someone who had ... (read more) Mortgage Rate Watch Mortgage Rates Falling Quickly to Lowest Levels in Weeks It's no secret that mortgage rates had a rough month in March and a rough year in general. The average lender raised 30yr fixed rates by roughly half a percent in February and March alone. But April has proven to be an entirely different sort of mont... (read more) Housing News Housing Starts Reach Highest Levels Since 2006 Residential construction recovered in March after a serious decline the prior month. The U.S. Census Bureau and Department of Housing and Urban Development said all three measures rose, with housing starts hitting a 15 year high . Some regional incre... (read more) Housing News New Home Purchase Applications Ramping up for Spring True to tradition, new home sales appear to have moved higher in March as the calendar closed in on the start of the spring market. The Mortgage Bankers Association (MBA) estimates sales of newly constructed homes increased by 7 percent compared to F... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% +0.02 0.00 15 Yr. Fixed 6.02% +0.03 0.00 30 Yr. FHA 6.34% +0.05 0.00 30 Yr. Jumbo 6.90% +0.01 0.00 7/6 SOFR ARM 6.45% +0.10 0.00 30 Yr. VA 6.35% +0.05 0.00 Updates Daily - Last Update: 7/8 15 Yr. Fixed Rate 6.02% +0.03% 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 99.46 +0.01 Price / Yield Change MBS UMBS 5.5 99.46 +0.01 UMBS 6.0 101.34 +0.01 GNMA 5.5 99.63 +0.01 GNMA 6.0 101.25 -0.01 Pricing as of: 7/9 4:30AM EST 10 Year US Treasury 4.3963 -0.0099 Price / Yield Change US Treasury 2 YR Treasury 3.891 -0.004 5 YR Treasury 3.970 0.000 7 YR Treasury 4.169 -0.005 10 YR Treasury 4.397 -0.009 30 YR Treasury 4.918 -0.010 Pricing as of: 7/9 4:30AM EST Latest Video The Fed is underestimating inflation: Larry Lindsey The 9am Bond Report - April 19, 2021 Forecasters say economic boom will stay strong into the third quarter Big bull call on the homebuilders Around the Web Reuters Senator Manchin throws support behind U.S. labor reform bill Calculated Risk Blog Recession Measures and NBER CFPB CFPB Rule Clarifies Tenants Can Hold Debt Collectors Accountable for Illegal Evictions Reuters World can bring pandemic under control within months - WHO chief Calculated Risk Blog Housing Inventory April 19th Update: A Slight Increase from Record Low Calculated Risk Blog Seven High Frequency Indicators for the Economy CNBC House lifting is big business following a record year of storms Reuters Questionable Logic: Soaring Home Values, No Inventory, but CFPB Frets Over "Foreclosure Crisis" Calculated Risk Blog Existing Home Sales: Lawler vs. the Consensus Fannie Mae March Data Rebounds as Stimulus Checks Lead to a Surge in Spending Calculated Risk Blog California March Housing: Sales up 20% YoY, Active Listings down 51% YoY CNBC Fed's Waller says the economy is 'ready to rip' but policy should stay put Calculated Risk Blog Q1 GDP Forecasts: Around 7%

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