| Last | Change | Percent | |
| S&P Futures | 1861.7 | 18.6 | 1.01% |
| Eurostoxx Index | 3120.2 | 66.2 | 2.17% |
| Oil (WTI) | 103.9 | -1.0 | -0.97% |
| LIBOR | 0.235 | 0.000 | -0.13% |
| US Dollar Index (DXY) | 79.94 | -0.137 | -0.17% |
| 10 Year Govt Bond Yield | 2.64% | 0.04% | |
| Current Coupon Ginnie Mae TBA | 106.1 | -0.2 | |
| Current Coupon Fannie Mae TBA | 104.9 | -0.2 | |
| RPX Composite Real Estate Index | 200.7 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.32 |
The market giveth, the market taketh away. Stocks are up (and bonds / MBS are down) on positive developments in the Ukranian situation. Expect more of the same until the situation resolves itself. LOs, be sure to explain to your borrowers that rates will be very volatile for the near future and floating is playing with fire.
Home prices rose .9% month over month and 12% year-over-year in January, according to Corelogic. Prices remain 17.3% below their peak in April 2006. We had seen a bit of a divergence between the indices, with Case-Shiller observing month-over-month decreases (would signal a flattening of the index) and FHFA still reporting month-over-month increases. CoreLogic's numbers suggest Case Shiller is the outlier.
Obama is set to unveil his new budget today, which will increase spending and taxes. This is a political document, meant to frame the debate for midterm elections this year. It has absolutely zero chance of being implemented
Speaking of political acts, if you like your health care plan, you can keep it (at least through midterms). Obama is planning to delay another part of obamacare, which forbids non-compliant insurance policies until after the midterm elections. Side note, obamacare accounted for the big increases we saw in yesterday's personal incomes and personal spending report.
No comments:
Post a Comment