• July 19, 2023
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Rate sheets this morning likely to look similar to yesterday, and reprice risk on the day is low. Yesterday saw mortgage bonds lose some ground through the afternoon with a handful of late day reprices worse, mainly on the wholesale side, but nothing to get worked up about. Bonds improving this morning on news that

• July 18, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 August Coupon is currently up +8 BPS. Retail Sales: We got a mixed bag with the June data. The headline Retail Sales were lighter than expectations, 0.2% vs. est. of 0.5% but May was revised higher from 0.3% to 0.5%. Ex Autos, Retail Sales were up 0.2% vs.

• July 17, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 August Coupon is currently up +11 BPS. Rosie the Riveter: The July NY Empire Manufacturing Index surprised to the upside in the Fed’s district, showing expansion of 1.1 vs. est. of 0.0. It is that index’s second straight month of growth. Yellen is Yelling: Treasury Secretary Janet Yellen

• July 14, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 August Coupon is currently down -28 BPS. Genco Olive Oil: Import and Export Prices both dropped more than expected. Import Prices MOM were down -0.2% vs est of -0.1% and were down -6.1% on a YOY basis. Export Prices MOM were down -0.9% vs est of -0.2% and

• July 13, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 August Coupon is currently up +42 BPS. Inflation Nation: The June headline Producer Price Index was weaker (better) than expected, rising by just 0.1% vs. est. of 0.2%, plus the prior month was revised lower to -0.4%. YOY, it was up 0.1% vs. est. of 0.4%. Core PPI

• July 12, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently up +57 BPS. Taking it to the House: Weekly Mortgage Applications eked out a small gain of 0.9% even though mortgage rates shot up during that period. Purchases were up 1.8% and Refinances were down -1.3%. Inflation Nation: The June headline Consumer Price Index

• July 11, 2023
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MBS OVERVIEW Half Full: The June NFIB Small Business Optimism Index increased from 89.4 to 91.0 and beat out forecasts of 89.9. The June IBD/TIPP Economic Optimism will hit at 10 am. The Talking Fed: St. Louis Fed President Bullard will speak today. Treasury Dump: We kick off three days of dumping our debt into

• July 10, 2023
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MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 July Coupon is currently up +33 BPS. Three Things: These are the three areas that have the greatest ability to impact your backend pricing this week. 1) Inflation Nation, 2) The Talking Fed and 3) Central Bank Palooza 1) Inflation Nation: We get several measures

• July 7, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently down -8 BPS. Jobs, Jobs, Jobs: Its Big Jobs Friday! You can read the official BLS report here. Here is the Tale of the Tape: Jobs: June Non Farm Payrolls (NFP) increased by 209K vs. estimates of 225K May NFP were revised downward from

• July 6, 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: Weekly Mortgage Applications fell by -4.4%. Purchases were down -4.6% and Refinances were down -4.1%. Jobs, Jobs, Jobs: We have several key jobs reports this morning: The Talking Fed: Today we will hear from Dallas Fed