Jack's Morning Update

Where R Rates / MBS Market Update RATES ARE IN THE GREEN That’s right folks. Green does still exist in the color palette for mortgage bonds : ) Green yesterday and green this morning. Yesterday we had quite a swing to bring us from being way down to ending the…

Where R Rates / MBS Market Update JOLTS HITS RATES TODAY Lots of red on the screen. Here is the good news. It is not the end of the world. It is just Tuesday in the mortgage industry : ) I intentionally waited this morning to send this out until…

Where R Rates / MBS Market Update NEWS IMPACTING RATES After a pretty rough mortgage rate week last week we are starting the day pretty much where we left Fridays last rate sheet. After a week of no news last week causing rates to tumble due to uncertainty about inflation,…

Where R Rates / MBS Market Update BIG TWO WEEKS COMING Yesterday was kind of a strange day in the bond market. Conventional rates got hit pretty hard and govt rates saw a slight improvement. Then the 10 year note went down 6 BPS which is typically very good for…

Where R Rates / MBS Market Update WHERE RATES GO NOW We had a little bit of red yesterday on the screen. The only main part of the rate sheet that saw some decline yesterday was in the 5.5% to 6% conventional rates on the rate sheet. All of the…

Where R Rates / MBS Market Update RATES HIT HARD YESTERDAY Yesterday was a rough day in the mortgage markets. It is one of those days that we wish we could take back. Down 36 to 63 BPS which is $360 – $630 per 100K in loan size higher cost…

Where R Rates / MBS Market Update RATES HIT TODAY Last week from Tuesday open (Monday was a holiday) to Friday close we were down a little bit although nothing overly substantial. This morning we are seeing a lot of red on the screen though. With last week’s light news…

Where R Rates / MBS Market Update MANUFACTURING WAY UP We have some red on the screen this morning. Part of the issue this morning is that retail sales came out better than what was expected. Retail sales compares last weeks sales at big box stores to the same time…

Where R Rates / MBS Market Update MORTGAGE APP CHANGES Coming off of a good day of green yesterday and pretty close to where we ended yesterday so far this morning. Rate sheets should be similar to the last rate sheet of the day yesterday. Mortgage applications week over week…

Where R Rates / MBS Market Update MONTH OF HARD HITS It is good to be back friends. You may have noticed you have not received a morning update for two weeks. I was deployed with the American Red Cross Disaster Relief Team in the Carolinas. My apologies for any…

Where R Rates / MBS Market Update INFLATION IS DOWN You know I love my Mondays to see what actually happened last week vs the drama we play in our head on daily fluctuations and alerts that come at us every day. Overall, last week we were in the red although it…

Where R Rates & Market Knowledge Information To Chat With & Share With Clients & Realtors MARKET CHANGES 1 BPS = $10.00 change in cost to borrower for the same rate per 100K in loan size.Take Coupon % & add .75%ish to know the area impacted on your rate sheets.…