Jack's Morning Update

Daily Rate Briefing: WHAT BORR’S ARE APPLYING FOR Yesterday gave us another calm day in the mortgage markets. Government rates were unchanged, and conventional loans ticked up just 3 BPS — basically flat. The real win is that the 10-Year Treasury remains below 4 percent. That’s huge. Staying under that…

Daily Rate Briefing: MARKETS REMAIN CALM As we enter day 20 of Govt shutdown with what appears the vote to move forward is becoming further apart rather than closing the gap. The markets are still waiting around to see what happens with minimal movement. Last week the DOW did gain…

Daily Rate Briefing: BUILDER SPARK We’ve now had two green days in a row — a welcome sight after a shaky Monday night. While the screens may show us down 3 BPS, the full picture tells a better story: we clawed back 22 BPS from morning lows to the close…

Daily Rate Briefing: FED POWELL SPOKE We are starting the day out around where we ended yesterday which is a positive sign for mortgage rates. We were up 15 BPS on Conv Yesterday. We also are having a pretty good day in stocks as well. Fed Chair POwell came out…

Daily Rate Briefing: MBS UPDATE As we enter day 14 of the govt shutdown there does not appear to be an end in sight. Senate does vote again today at 5:30 PM so we shall see what happens. As stated before during these times the jobs and inflation reports do…

Daily Rate Briefing: THE FED DIVIDED We are starting the day out up 9 on Conv and up 3 on Govt so more of the same we have had all week with low to no data due to shut down. Today, we have 4 Fed speakers and a 30 Year…

Daily Rate Briefing: BIG AFTERNOON TODAY Another day and we are staying in line with the previous day’s market. We did gain ground yesterday as well as this morning. A total of 12 BPS for Conv and 9 BPS for Govt. It’s not much but it is in the right…

Daily Rate Briefing: AUCTIONS & SPEAKERS Another day into the shutdown and the mortgage rates are continuing to be stable without much change. Yesterday, Govt MBS ended the day exactly where it started and Conventional rates ended the day down 6 BPS which is pretty much a non-event. This morning,…

Daily Rate Briefing: SHUTDOWN MARKET HISTORY As we enter day 6 of the govt shutdown the markets week over week stayed in the green for the most part. Stock exchanges were up, the 10 Yr went down (good for rates) and mortgage rates ended the week close to where they…

Daily Rate Briefing: DATA BLACKOUT WATCH In light of today’s topic on government shutdown impacts, here are a few key takeaways: Many major reports are on pause — including unemployment/wage data, tomorrow’s big labor market report, CPI, GDP, Retail Sales, Industrial Production, Census releases, and Commerce data like durable goods…

Daily Rate Briefing: ADP HELPS RATES We are starting the day up 10 BPS in the conventional market and up 6 in the Govt market as of the moment. The 10 Yr is down 5 to 4.10 which is AWESOME to see. But why? The ADP payroll report threw the…

Daily Rate Briefing: STEADY BUT CAUTIOUS I waited to send this morning’s update to see the results of the big JOLTS labor report. The JOLTS report identifies what is happening in hiring and those quitting sector of employment. We are starting the day up just a bit this morning with…