Published Date 6/14/2024
Rates began flat this morning after another session that dropped the 10 year note another 8 bps yesterday to 4.24%. The note did slip in overnight activity to 4.20% the lowest level since the beginning of April. Inflation cooling in both May CPI and PPI, weekly jobless claims increased yesterday more than estimates. Markets also impressed with the vey strong 10 year and 30 year auctions, both saw very strong demand, especially from foreign banks and large foreign investors driven by turmoil in France, he called for a snap election after Marine Le Pen’s win for the EU parliament.
At 8:30 am ET more good news on May imports and export prices. Imports expected to be unchanged from April’s +0.9% increase but declined 0.3% month/month, year/year thought to be +1.5% increased just 1.1%. Export prices forecast at 0.0% declined 0.6% and year/year +0.6% from +1.0% in April. Import prices declined for the first time this year; prices for non-fuel imports fell by 0.3% amid lower costs for foods, feeds, and beverages (-1.3%), industrial supplies and materials (-0.4%), and consumer goods (-0.2%). Export prices the lowest since last December.
The G-7 meeting began yesterday in Italy continuing today and over the weekend. Based on the schedule there isn’t anything in the meeting that will directly influence markets.
At 9:30 am the DJIA opened -176, NASDAQ -58, S&P -20. 10 year at 9:30 am 4.23% -2 bps. FNMA 6.0 30 year coupon at 9:30 am -2 bps from yesterday’s close and -6 bps from 9:30 am yesterday.
At 10 am the University of Michigan mid-month consumer sentiment index, the index was expected to have increased to 73.0 from 69.1 at the end of May, year ahead inflation at 3.2% down from 3.3%. The sentiment index dropped to 65.6.
Source: TBWS
All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
Millenium Home Mortgage, LLC NMLS # 51519 Licensed by the NJ Department of Banking and Insurance, CT Mortgage Banker 1st and 2nd Mortgages Licensed as MHM Home Mortgage, Licensed by the Pennsylvania Department of Banking. All interest rates, fees and programs are subject to change without notice. THIS ENTIRE SITE IS NOT INTENDED AS A SOLICITATION FOR MORTGAGE LOAN CUSTOMERS IN NEW YORK, PENNSYLVANIA, OR CONNECTICUT.
NMLS: 65345
Millenium Home Mortgage LLC
211 North Ave East, Westfield NJ
Company NMLS: 65378
Office: 908-588-7601
Cell: 908-875-7918
Email: jgalayda@mhmlender.com
NMLS: 65345
Cell: 908-875-7918
9/27/2024
The dream of buying a home with friends can quickly turn into a nightmare when i... view more
9/27/2024
August inflation slightly better than the forecasts, except the annual core infl... view more
9/26/2024
Headline August Durable Goods Orders were 9.9% versus estimates of -2.6%...... view more
9/25/2024
Call it scoping out the competition or call it being nosy, but...... view more
9/23/2024
In a remarkable turn of events, the US housing market has witnessed a dramatic i... view more
9/23/2024
In a remarkable turn of events, the US housing market has witnessed a dramatic i... view more
9/23/2024
These are the three areas that have the greatest ability to impact rates this we... view more
9/20/2024
All that money for your dream home just left your account. Soon you’ll hear the ... view more
9/20/2024
No significant news this morning, markets still digesting what the Fed means usi... view more
9/19/2024
Initial Weekly Jobless Claims were lower (better) than expected, 219K versus est... view more