| Last | Change | Percent | |
| S&P Futures | 2037.5 | -6.9 | -0.24% |
| Eurostoxx Index | 3397.4 | 15.8 | 0.48% |
| Oil (WTI) | 45.39 | -0.2 | -0.32% |
| LIBOR | 0.257 | 0.000 | 0.16% |
| US Dollar Index (DXY) | 95 | 0.926 | 0.98% |
| 10 Year Govt Bond Yield | 1.80% | -0.03% | |
| Current Coupon Ginnie Mae TBA | 103.1 | 0.1 | |
| Current Coupon Fannie Mae TBA | 102.6 | 0.1 | |
| BankRate 30 Year Fixed Rate Mortgage | 3.84 |
Markets are down small as a historic snowstorm bears down on the Northeast. Bonds and MBS are up small.
The Northeast is bracing for a historic snowstorm to start today and go through Tuesday night. NYC is expected to get up to 2 feet, while Boston could get close to 3 feet. The evening commute will probably start around noon today, as the National Weather Service has a blizzard warning for the tri state area beginning at 1:00 pm today. Expect to see a touch more volatility in the markets as desks will be understaffed for the next couple of days.
Aside from the snowstorm, we have some important data this week, with the FOMC meeting and also Q4 GDP on Friday. The January FOMC meeting should not have any economic projections and I don't anticipate anything market moving to come out of the press release, but you never know. The Street is forecasting +3.0% on the advance estimate for Q4 GDP.
Homebuilder D.R. Horton announced better-than-expected earnings this morning. Sales, orders, and backlog are up smartly. Analysts will be most concerned about the Texas housing market. The stock is up a buck as of now. The conference call begins at 10:00 am. Note that both Lennar and KB waited until the conference call to disclose poor Q1 forecasts, so don't feel the need to lift any Horton quite yet.
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