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Saturday’s: 9AM 1590 AM/97.9 FM KVTA
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U.S. job growth continued at a moderate pace in August while the unemployment rate unexpectedly jumped, a sign that the labor market is finally cooling in the face of rising interest rates and chronic inflation. Employers added 187,000 jobs in August, the Labor Department said in its monthly payroll report released Friday, topping the 170,000 jobs
READ MOREMay 4th & 5th Weekend Does Your Lender Love You? You Do Not Need That Kind of Love in YOUR Life. Join Host Mike Harris and make your appointment to join in this weekend as we Save Our Money together for loans in CA, CO, MT, TX, WA, and DSCR in an additional 46 states.
READ MORERate sheets this morning likely to be in line with yesterday, as both those that locked and those that floated win this morning… since there is basically no change. Reprice risk on the day is low, we may see bonds drift higher as traders park money in bonds for what is historically the last hurrah
READ MORERate sheets this morning likely to be a bit worse than yesterday, and loans are facing a decision of whether to lock or float ahead of tomorrow’s jobs data. Reprice risk today is low, not much to worry about. The outlook today is much brighter than a week ago, with the door open to see
READ MOREWRAP UPUMBS 6.0: 100.11 (-8bps)10yr yield: 4.12 Bonds losing steam in the late afternoon, could see some late day lender reprices worse. Never a bad idea to consider locking risk averse and near term, unless planning on floating into Friday’s jobs data to see what that brings. I’m no clairvoyant, all I can tell you
READ MOREMBS OVERVIEW Taking it to the House: The June FHFA Housing Price Index showed a MOM increase of 0.3% versus estimates of 0.2%. The June Case Shiller Metro City YOY Index dropped by -1.2% versus estimates of -1.3%. Jobs, Jobs, Jobs: The July Job Openings and Labor Turnover Survey (JOLTS) showed 8.827M unfilled jobs versus
READ MORERate sheets will come out reflecting whatever take the market has on Fed Chair Jerome Powell’s speech from Jackson Hole today at 10:05am ET. The initial start to the day sees mortgage bonds a bit on the weaker side, and if pricing came out right now it would be slightly worse than yesterday. However, there
READ MORERate sheets likely to give back some of yesterday’s gains, which didn’t quite match up to the gains in bonds to begin with. What I mean is that mortgage bonds improved to levels last seen 8/14, when rates were .375 to .25% better. However, most rate sheets improved about .125%, some a little more. That’s
READ MOREWRAP UPUMBS 6.0: 99.61 (+52bps)10yr yield: 4.19 Bonds rallied early and peaked as pricing came out around 10am ET, holding the gains all day but not improving further. Tomorrow could bring more improvement to rate sheets, but it is far from guaranteed. Is it worth floating into tomorrow to try for more? Depends on what
READ MOREWRAP UPUMBS 6.0: 99.05 (-3bps)10yr yield: 4.33 Bonds improved a bit through the day, and a handful of lenders improved pricing from this morning. However, this is far from anything to get overly excited about, as most rate sheets are still trending worse… just at a slower pace. Advice remains to lock all loans, even
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