| Last | Change | Percent | |
| S&P Futures | 1812.7 | -4.4 | -0.24% |
| Eurostoxx Index | 3074.2 | -20.7 | -0.67% |
| Oil (WTI) | 100.2 | -0.1 | -0.14% |
| LIBOR | 0.236 | 0.000 | -0.11% |
| US Dollar Index (DXY) | 80.33 | -0.347 | -0.43% |
| 10 Year Govt Bond Yield | 2.74% | -0.02% | |
| Current Coupon Ginnie Mae TBA | 106 | 0.3 | |
| Current Coupon Fannie Mae TBA | 104.5 | 0.3 | |
| RPX Composite Real Estate Index | 200.7 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.28 |
Markets are lower this morning after a lousy retail sales number. Bonds and MBS are up small. Initial Jobless Claims came in at 339k.
Another major snowstorm has hit the New York area today, so expect volumes to be on the light side and rates to be a little more volatile than normal.
The low retail sales number was based on bad weather, so it might be tough to read too much into it.
Big merger in the cable TV space - Comcast is buying Time Warner cor $45 billion. Gives the arbs something to chew on for a while. And brings the NFL network to the New York area.
Delinquencies continue to drop. According to TransUnion, only 3.85% of mortgages were 60 days down, the lowest in 6 years.
In a true "man bites dog" situation, Ralph Nader is contesting the effective nationalization of Fannie and Freddie. Just before the companies started generating cash, the WH changed the rules and decreed that all funds must flow to Treasury and that they would not count as "debt repayment." In other words, they nationalized the company without taking the existing shareholders out. The fate now resides in the courts.
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