| Last | Change | Percent | |
| S&P Futures | 1603.2 | -4.0 | -0.25% |
| Eurostoxx Index | 2558.8 | -44.4 | -1.71% |
| Oil (WTI) | 101.4 | 1.8 | 1.78% |
| LIBOR | 0.274 | 0.001 | 0.37% |
| US Dollar Index (DXY) | 83.39 | -0.151 | -0.18% |
| 10 Year Govt Bond Yield | 2.46% | -0.01% | |
| Current Coupon Ginnie Mae TBA | 102.5 | 0.1 | |
| Current Coupon Fannie Mae TBA | 101.4 | 0.0 | |
| RPX Composite Real Estate Index | 204.2 | -0.3 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.35 |
Early close today for stocks (1:00 pm) and bonds (2:00 pm).
Markets are down small after political issues in Europe are pushing PIIGS spreads out. The Portuguese 10 year yield is 117 basis points higher to 7.89% and Greece is out 58 bps. Want to know what can stop the bond market selloff in its tracks? Risk off trade due to European sovereign bond problems
We have a slew of economic data this morning, and Friday's jobs report looms large. Mortgage applications fell 12%. Purchases were down 3%, while refis dropped 16%. The ADP Employment Change report which foreshadows the private part of Friday's jobs report came in better than expected at +188k. Initial Jobless Claims were 343k, better than expected.
The Fed approved Basel III capital requirements yesterday. The Fed apparently relaxed some of the capital requirements for mortgages, but it appears this would only apply to community banks. I haven't seen anything with regards to MSRs.
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