| Last | Change | Percent | |
| S&P Futures | 2087.4 | -10.4 | -0.50% |
| Eurostoxx Index | 3573.1 | -51.3 | -1.42% |
| Oil (WTI) | 59.72 | 0.5 | 0.79% |
| LIBOR | 0.28 | 0.001 | 0.36% |
| US Dollar Index (DXY) | 94.52 | -0.493 | -0.52% |
| 10 Year Govt Bond Yield | 2.30% | 0.02% | |
| Current Coupon Ginnie Mae TBA | 101.5 | -0.3 | |
| Current Coupon Fannie Mae TBA | 100.3 | -0.1 | |
| BankRate 30 Year Fixed Rate Mortgage | 3.89 |
Stocks and bonds are lower as the bloodbath in European bonds continues. The German Bund is trading at 67 basis points. The reversal in Eurobonds has been nothing short of astounding.
Small business optimism bounced back in April, according to the NFIB. That said, optimism still has not fully recovered from Q1's weakness. Labor markets continue to improve slowly but surely.
Job openings fell in March from 5.14 million to 5 million. The quits rate is steadily increasing (from 1.8% last year to 2.0% this year, which is a good sign.
Completed foreclosures fell to 41,000 in March, according to CoreLogic. Foreclosure inventory is still the highest in the judicial states of New York, New Jersey and Florida. The national seriously delinquent rate fell to 3.9%.
More evidence the first time homebuyer is coming back. The NAR is forecasting prices will increase 5.9% this year, more than last year's 5.7%. They are forecasting the average 30 year mortgage rate will come in around 3.9% for the year
The National Fair Housing Alliance is suing Fannie Mae for racial discrimination in lending. “Fannie Mae fails to perform basic maintenance and marketing tasks for foreclosed homes it owns in African
American and Latino neighborhoods, while consistently maintaining its foreclosed properties in white neighborhoods.” I wonder how much of this is due to the fact that in some places like Toledo OH, Detroit MI, and Camden NJ, there simply isn't a bid for these properties given their stripped state and unpaid back taxes.
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