| Last | Change | Percent | |
| S&P Futures | 1838.4 | -1.3 | -0.07% |
| Eurostoxx Index | 3068.2 | 2.8 | 0.09% |
| Oil (WTI) | 98.16 | 0.2 | 0.17% |
| LIBOR | 0.233 | -0.001 | -0.32% |
| US Dollar Index (DXY) | 79.38 | -0.228 | -0.29% |
| 10 Year Govt Bond Yield | 2.74% | 0.01% | |
| Current Coupon Ginnie Mae TBA | 105.6 | 0.0 | |
| Current Coupon Fannie Mae TBA | 104.1 | 0.0 | |
| RPX Composite Real Estate Index | 200.7 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.34 |
Markets are flattish after the Producer Price Index came in lower than expected. Bonds and MBS are up.
A paper out of Estonia is reporting that a Russian invasion of Ukraine is imminent.
Inflation remains muted at the wholesale level, with the Producer Price Index coming in at -.1% month-over-month and .9% on a year-over-year basis. While the Fed prefers to look at the PCE (Personal Consumption Expenditures) when measuring inflation, the other measures do get consideration. This shows inflation well below the Fed's comfort zone, which is another reason why they are backing off that 6.5% unemployment target. The last thing the Fed needs is a bond market sell-off when we get to that threshold.
Foreclosure activity decreased 10% in February, to the lowest level in more than 7 years, according to RealtyTrac. They mention the issue of zombie foreclosures, where a vacant house in the foreclosure process sits for a long period of time and is not maintained. This is a natural for the 203k business. The average is 20% zombie foreclosures, however in some cities it is closer to 33%. The biggest states: Florida, Illinois, New York, New Jersey, and Ohio.
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