| Last | Change | Percent | |
| S&P Futures | 2086.8 | -14.0 | -0.67% |
| Eurostoxx Index | 3685.8 | -66.0 | -1.76% |
| Oil (WTI) | 56.23 | -0.5 | -0.85% |
| LIBOR | 0.274 | -0.001 | -0.44% |
| US Dollar Index (DXY) | 97.71 | 0.296 | 0.30% |
| 10 Year Govt Bond Yield | 1.90% | 0.01% | |
| Current Coupon Ginnie Mae TBA | 103.7 | 0.1 | |
| Current Coupon Fannie Mae TBA | 102.5 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 3.73 |
Stocks are lower this morning after Chinese shares got roughed up overnight. Bonds and MBS are down small.
Inflation remains well contained and below the Fed's target. Consumer Prices rose .2% in March. On a year over year basis, they were down .1%. Ex food and energy, they were up 1.8%. Real weekly earnings were up 2.2%. The wage inflation number is encouraging, as wage growth is the last piece of the puzzle.
Consumer Sentiment rose, according to the University of Michigan Consumer Sentiment Survey. Current conditions and expectations both increased.
The Index of Leading Economic Indicators improved slightly in in March, to 0.2% from a downward-revised 0.1% in February.
The NAHB is pushing Congress to pass the Mortgage Choice Act, which makes some modifications to the definitions of points and fees in order for a mortgage to be considered a qualified mortgage. They believe credit is too tight, and the regulatory agencies are part of the reason why. Interesting given the lousy housing starts number this week.
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