The UST10-Year yield is at 2.363% this morning after closing at 2.390% yesterday.
This morning, little economic data was released ahead of the ECB meeting tomorrow and the much anticipated FED meeting on Dec 13-14th.
MBA Mortgage Applications data was released for the week ending in December 2nd; the applications index fell 0.70% after falling 9.40% the week prior. Applications for FHA purchases rose by 15.00% after falling 7.60% the week prior and VA refinances increased 13.30% after falling 29.90% the week prior. The average 30-Year fixed rate is currently at 4.270% vs. 3.620% in September. The U.S. Bureau of Labor Statistics released the October Job Openings and Labor Turnover Survey (JOLTS) which came in at 5.534 Million, a dip from the previously revised 5.631 Million in September.
Today, the Fed is scheduled to purchase $2.50 Billion in 30-Year Mortgage Backed Securities, $500 Million in Fannie 3.00’s, $975 Million in Fannie 3.50’s, $350 Million in Freddie 3.00’s, and $675 Million in Freddie 3.50’s.
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This morning, little economic data was released ahead of the ECB meeting tomorrow and the much anticipated FED meeting on Dec 13-14th.
MBA Mortgage Applications data was released for the week ending in December 2nd; the applications index fell 0.70% after falling 9.40% the week prior. Applications for FHA purchases rose by 15.00% after falling 7.60% the week prior and VA refinances increased 13.30% after falling 29.90% the week prior. The average 30-Year fixed rate is currently at 4.270% vs. 3.620% in September. The U.S. Bureau of Labor Statistics released the October Job Openings and Labor Turnover Survey (JOLTS) which came in at 5.534 Million, a dip from the previously revised 5.631 Million in September.
Today, the Fed is scheduled to purchase $2.50 Billion in 30-Year Mortgage Backed Securities, $500 Million in Fannie 3.00’s, $975 Million in Fannie 3.50’s, $350 Million in Freddie 3.00’s, and $675 Million in Freddie 3.50’s.
The curve has bull-flattened with the UST 10-Year 2.7 bps down from prior closing.