Open But Not Really Open

Open But Not Really Open This is just a reminder that the Friday after Thanksgiving is the most useless and inconsequential trading day of the year. In very rare cases, movement can be tied to actual events/data, but that's not the case today. We do not publish detailed commentary on this particular Friday unless something interesting is happening. We're only publishing this to let you know we're watching and still not seeing anything interesting. Market Movement Recap 10:03 AM sideways overnight and modestly weaker so far. MBS down 2 ticks (.06) and 10yr up 1.7bps at 4.012

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MBS Fully Recover After Initial Reaction to Inflation Data

There’s no question that this morning’s PPI data hit the bond market. The volume spike was easily higher than that seen with yesterday’s CPI and the ma…

Mortgage Rates Officially at 6 Week Highs

Mortgage rates rose somewhat sharply yesterday to match the highest level since March 27th. They’re just a hair higher today, thus officially at 6-week highs. Whereas yesterday’s Consumer Price Index (CPI) didn’t have an obviously negative impac…

AI, CRM, Verification, DSCR, HELOC Products; Gov’t Programs; Rates and Inflation, Borrower Psychology

The April FOMC Meeting concluded with the Fed leaving interest rates unchanged, and it was the last under Jerome Powell’s chairmanship. Chair Powell is the first Fed Chairman to step down and remain on the Board since 1948 due to a) the Federal investi…

Open But Not Really Open

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