Jack's Morning Update

Where R Rates / MBS Market Update RATES HIT HARD AGAIN It has been a rough two days folks. Down over 100 BPS in the last two days. The biggest reason for this is the issues with tariffs and the biggest one being the battle with China. With Trump doing…

Where R Rates / MBS Market Update RATES GONE WILD Whatever you do. Don’t blink because in the time it takes you to blink the markets may have changed.  It is not really possible to explain what is happening as so much is happening at the same time and it…

Where R Rates / MBS Market Update RATE ROLLER COASTER Buckle up folks as we are in for a continuation of a turbulent ride where anything can happen on any day. There are so many things floating around that impact the markets and these are large impacts. Last Monday through…

Where R Rates / MBS Market Update BIG RATE DAY As much as we want to see rates get better which they are today. We are hitting some new highs we have not seen in awhile. It is coming at a cost to the economy and to the stock market.…

Where R Rates / MBS Market Update NICE RATE RALLY It is a good two days in the green friends. ADP came in way better than expected which is typically not great for mortgage bonds. 155K new jobs were created vs the expected 105K jobs which is significant. Other items…

Where R Rates / MBS Market Update HOPE FOR BETTER RATES A green week is a good week in my book. We had a nice rally on Friday that got us back in the green. Last week we ended at Friday close of business not to far from where we started…

Where R Rates / MBS Market Update GDP IMPACT TO RATES This morning we have a bit of a Christmas Tree design going on in the mortgage bond market. It seems that bonds that come with a discount to get the rate are down or level (Red below) and mortgage…

Where R Rates / MBS Market Update SHAKING FHFA UP Yesterday we started the day down a little bit and ended the day up 3 across the board. For the record, that is the first time I have ever seen all mortgage bonds end the day with the same change…

Where R Rates / MBS Market Update DEMAND HITS RATES Well, yesterday was not a great day in mortgage rates. We were down anywhere from 15 BPS in the higher rate govt loans rate sheet to being down 32 BPS in the lower rate conventional loans. To the tune of…

Where R Rates / MBS Market Update FED RESULTS IMPACT We are starting the day off quite nicely after yesterdays Fed Meeting Notes and Press Conference. Some of the notable items they mentioned was pausing on quantitative tightening which is a fancy word for not reinvesting the bonds that mature…

Where R Rates / MBS Market Update IT’S FED DAY Fed Day is always a fun day to find out what the Fed is thinking and planning. There are no expectations for a rate cut today but they will be guiding us on the outlook for the rest of the…

Where R Rates / MBS Market Update WARS, BONDS & AUCTIONS Sorry for delay folks. Spent the morning in the dentist chair. 3 hours!  We have a lot happening today that can impact the markets from a technical trading perspective, auctions and global events galore. We have a 500 billion…