• July 2, 2023
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  We are halfway down the year. Fittingly, we are also celebrating Independence Day just as we are continuing the fight against inflation to gain the financial freedom we want. In this episode, Michael Harris helps us navigate through the key days we need to be looking out for. From interest increases and other inflationary

• June 30, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently up +21 BPS. Inflation Nation: The Fed’s key measure of inflation, Core PCE (Ex food and energy) increased in May by 0.3% on a MOM basis on top of April’s increase of 0.4%. The consensus estimates were from 0.4%. YOY, Core PCE was up

• June 29, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently down -31 BPS. Taking it to the House: The May Pending Home Sales Index dropped by -2.7% vs. 0.2%. Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were better (lower) than expected, 239K vs. est. of 265K. The more closely watched 4 week moving average

• June 28, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently up +20 BPS. Taking it to the House: Weekly Mortgage Applications increased by 3.0%. Refinances were up 3.3% and Purchases were up 2.8% Central Bank Palooza: We heard from ALL the bigwigs today in a Central Bankers panel in Portugal. MBS didn’t have much

• June 27, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently down -11 BPS. Rosie the Riveter: May Durable Goods were much stronger than expected with the headline reading rising by 1.7% vs. est. of a contraction of -1.0%. Ex Transportation, it was up 0.6% vs. est. of -0.1% and Non Defense Capital Goods Ex

• June 26, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently up just +6 BPS. Rosie the Riveter: The June Dallas Fed Manufacturing Survey continued to slump with a contractionary reading of -26.5 which follow May’s very weak -29.1. Treasury Dump: We kicked off three days of dumping our debt into the marketplace with our

• June 24, 2023
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  The Fed is on a pause, making us put our feet on the brake. But anytime now, we have to continue hovering over that gas pedal and get ready to go. Chairman Powell says, “It gives us a little bit more time to watch what’s going on, watch the things come through the market,

• June 23, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently up +19 BPS. Markit Down: The June Markit Flash PMIs showed Manufacturing at 46.3 vs. est. of 48.5 and Services PMI at 54.1.0 vs. est. of 54.0 Not a lot of data this week other than housing news. The week headlined by Jerome Powell’s

• June 22, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently down at -23 BPS. Taking it to the House: May Existing Home Sales were 4.30M units on an annualized basis vs. est. of 4.250M. The Talking Fed: Fed Chair Powell completed two days of testimony. This time to the Senate Banking Committee. There were

• June 21, 2023
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MBS OVERVIEW Domestic Flavor: Taking it to the House: Weekly Mortgage Applications were flat at 0.5%. Refinances were down -2.1% and Purchases were up 1.5%. The Talking Fed: Fed Chair Powell will give his Semiannual Monetary Policy report to the Committee on Financial Services in the House today at 10 am ET. We already have