| Last | Change | Percent | |
| S&P Futures | 2006.1 | -1.3 | -0.06% |
| Eurostoxx Index | 3239.8 | -10.6 | -0.32% |
| Oil (WTI) | 49.42 | -0.2 | -0.42% |
| LIBOR | 0.321 | 0.001 | 0.31% |
| US Dollar Index (DXY) | 94.74 | -0.075 | -0.08% |
| 10 Year Govt Bond Yield | 2.09% | 0.00% | |
| Current Coupon Ginnie Mae TBA | 104.8 | ||
| Current Coupon Fannie Mae TBA | 104.1 | ||
| BankRate 30 Year Fixed Rate Mortgage | 3.89 |
Markets are flattish on no real news. Bonds and MBS are closed for the Columbus Day holiday.
No economic data this morning, but we will get a slew of data this week. We will get retail sales on Wednesday, which promises to be a big number as well as inflation data. On Friday we get some big manufacturing data.
Earnings season kicks off in earnest this week with many of the big banks reporting. We will hear from JP Morgan after the close.
The CFPB is going after mandatory arbitration clauses in banking and credit cards. This will make it easier for consumers to sue. Separately, the SEC is reducing its use of in-house administrative law judges, which critics have said gives it a "home court" advantage.
The rental market has been on fire, and has been doing much better than the single family construction market. Is that about to change? As the Millennials age, they will become house buyers. The demographics are changing, and 2015 may be the known as "peak rentals" The one thing our economy needs more than anything right now is more housing construction. We have a shortage, and housing construction employs a lot of people with jobs that pay good wages. The difference between 1.2 million housing starts and 2 million in terms of growth is very meaningful.
Last week the House passed a bill that would extend a hold-harmless period for TRID until February. Its fate in the Senate is unclear. The CFPB has said it will take into account whether a company is making a good faith effort to comply but does not support a hold harmless period.
Shortest honeymoon ever. After agreeing to a deal to stop developing nuclear weapons in exchange for the lifting of sanctions, Iran tested a long range ballistic missile with a range of around 800 miles, potentially violating the agreement signed in July.
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