| Last | Change | Percent | |
| S&P Futures | 1854.4 | -5.7 | -0.31% |
| Eurostoxx Index | 3199.4 | -31.0 | -0.96% |
| Oil (WTI) | 100.4 | -0.7 | -0.73% |
| LIBOR | 0.229 | 0.000 | -0.11% |
| US Dollar Index (DXY) | 80.32 | -0.101 | -0.13% |
| 10 Year Govt Bond Yield | 2.72% | 0.00% | |
| Current Coupon Ginnie Mae TBA | 105.2 | 0.0 | |
| Current Coupon Fannie Mae TBA | 104.2 | 0.0 | |
| RPX Composite Real Estate Index | 200.7 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.35 |
Markets are lower this morning worldwide and US futures are following. Bonds and MBS are up small.
This week is a light one data-wise, with only the FOMC minutes (which will be released on Wed) as a potential catalyst. The market will be parsing the minutes looking for more color around the "as soon as six months" comment.
This week starts off earnings season, and we will hear from JP Morgan and Wells late in the week. We will probably see poor mortgage banking numbers out of both (although Wells is very aggressive these days bidding paper).
According to Black Knight Financial Services, monthly origination volume is the lowest on record. The government's share of originations has fallen due to a sharp drop in HARP loans. There is very little origination activity happening in the lowest credit score buckets.
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