| Last | Change | Percent | |
| S&P Futures | 1818.9 | -8.2 | -0.45% |
| Eurostoxx Index | 3106.2 | -46.7 | -1.48% |
| Oil (WTI) | 103.4 | 0.0 | 0.03% |
| LIBOR | 0.226 | -0.001 | -0.26% |
| US Dollar Index (DXY) | 79.52 | 0.140 | 0.18% |
| 10 Year Govt Bond Yield | 2.61% | -0.04% | |
| Current Coupon Ginnie Mae TBA | 106 | 0.1 | |
| Current Coupon Fannie Mae TBA | 104.7 | 0.2 | |
| RPX Composite Real Estate Index | 200.7 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.26 |
Markets are lower again this morning after the market sold off heavily yesterday. Bonds and MBS are up.
The producer price index came in at .5%, showing inflation remains tame.
LOs, if you have anyone on the fence about locking or who wanted to do a loan but was balking at the rate, give them a call. A 2.61% 10 year yield isn't going to last long.
JP Morgan missed earnings estimates last night, and the only way to describe the mortgage arm is dismal. Mortgage Origination volumes were down 68% from the prior year and 27% from the prior quarter. The business lost $58 million on a pre-tax basis. J.P. Morgan is forecasting a pretax loss of about $100MM - $150MM in the second quarter, and a pre-tax loss for the entire year. The stock is down a couple of bucks (about 3.5%) pre-open
Well Fargo, on the other hand beat earnings estimates, however the stock is flat pre-open. Wells originated $36 billion in Q1, down from $50 billion in Q4 and $140 billion a year ago. Gain on sale margins fell to 1.61% from 1.77% last quarter and 2.56% a year ago.
No comments:
Post a Comment