| Last | Change | Percent | |
| S&P Futures | 1865.7 | 6.4 | 0.34% |
| Eurostoxx Index | 3135.4 | 38.8 | 1.25% |
| Oil (WTI) | 99.63 | 0.4 | 0.44% |
| LIBOR | 0.233 | -0.001 | -0.43% |
| US Dollar Index (DXY) | 80.1 | 0.157 | 0.20% |
| 10 Year Govt Bond Yield | 2.74% | 0.00% | |
| Current Coupon Ginnie Mae TBA | 104.8 | -0.1 | |
| Current Coupon Fannie Mae TBA | 103.9 | 0.1 | |
| RPX Composite Real Estate Index | 200.7 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.35 |
Markets are higher this morning in spite of a kind of weak durable goods number. The headline number was better than expectations, but once you strip out air and defense, they actually fell. The market seems to be handing out weather-related "get out of jail free" cards like candy these days. Bonds and MBS are flattish.
Mortgage Applications fell 3.5% last week. Purchases rose 2.8% while refis fell 7.7%. Rates rose 6 basis points which explains the drop. Refis dropped to 53.8% of all loans.
The buy and mod business remains robust, at least in NY, one of the most lender-unfriendly states out there. DQs loans in Northeast judicial states like NY and NJ trade for 60% of BPO, as opposed to California, where it is closer to 80%. Maybe this is what it takes to move the logjam of foreclosed properties in New York.
Party like its 1999: Candy Crush is worth $7 billion. Guess all of those annoying facebook push ads must be worth something.
Fed Head Lockhart tries to clarify the "considerable time = six months" comment by saying that six months is a minimum, and it will probably be longer than that. Apparently some market participants were taking Yellen's comments to mean "as soon as April."
Redwood just priced $180 million of top rated jumbo securities paying 4% at 101.30. The REIT had been simply selling loans outright to banks lately given their appetite.
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