MBA Mortgage Applications rose +3.8% (-23.2% YoY) for the week ending October 3rd following a -0.2% decline the week prior. Purchases rose +2.4% vs. +0.0% prior (-7.9% YoY) and Refinancing advanced +5.0% vs. -0.3% prior (-31.9% YoY). Today at 11:00 AM (PDT)the Fed releases minutes from the September 16-17 FOMC meeting. Treasuries advanced yesterday forcing 10-Year yields to a one-month low following the IMF’s updated growth projections. The IMF lowered their growth outlook from the 4% July forecast to 3.8% fueling demand for safe haven assets. The curve has bull steepened with 2s10s up +0.4 bps.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
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