| Last | Change | Percent | |
| S&P Futures | 1998.2 | -0.4 | -0.02% |
| Eurostoxx Index | 3194.6 | -3.0 | -0.09% |
| Oil (WTI) | 93.98 | 0.1 | 0.13% |
| LIBOR | 0.238 | 0.004 | 1.49% |
| US Dollar Index (DXY) | 82.49 | -0.159 | -0.19% |
| 10 Year Govt Bond Yield | 2.37% | -0.03% | |
| Current Coupon Ginnie Mae TBA | 106.6 | 0.2 | |
| Current Coupon Fannie Mae TBA | 105.9 | 0.1 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.23 |
Stocks are higher this morning as the S&P 500 crossed the 2000 level yesterday. Bonds are following the rally in Europe. The German 10 year hit 90 basis points this morning.
Slow news day. Going to be a short missive because there isn't much to talk about.
Mortgage Applications rose 2.8% last week. Purchases rose 2.6% while refis rose 2.8%. Refis were 55.7% of all mortgages originated.
As European economies continue to struggle, the speculation is that European Central Bank Head Mario Draghi will announce some sort of quantitative easing early in September. Blackrock was just appointed as the ECB consultant for the ABS purchase program, it looks like the ECB is serious about going down this route.
The 2008 meltdown was worse than the Great Depression, according to Ben Bernanke. "Of the 13 most important financial institutions in the United States, 12 were at risk of failure within the period of a week or two."
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