Brought to you by marketnewsletters.com
CONTACT ME
Temporary Weakness After PCE Headline
  Mortgage Market Update
May 30, 2017 2:09 PM ET

Today's 8:30am econ data time slot was exclusively occupied by Incomes and Outlays.  This report gives us wage growth data ("Personal Income") as well as an important inflation metric (PCE, or "personal consumption expenditures").  

  • Personal Income +0.4 vs +0.4 forecast
  • Consumption +0.4 vs +0.4 forecast
  • Monthly Core PCE +0.2 vs +0.1 forecast and -0.1 previously
  • Year-over-year Core PCE +1.5 vs +1.6 previously

There isn't too strong a statement in any of the above, but bond markets' first reaction was to give up some of their overnight gains.  The selling pressure stalled quickly, and yields are now back in line with their pre-data levels, with 10yr Treasuries just over 1bp lower on the day.  Fannie 3.5s are 1/32nds higher than last Friday's latest levels.

MBS / Treasury Market Data

UMBS 5.5
97.50
+0.42
UMBS 6.0
99.46
+0.40
UMBS 6.5
101.08
+0.34
2 YR
4.9623
-0.0790
10 YR
4.6315
-0.0514
Pricing as of: 5/1 7:46PM EST
This Mortgage Market Update is provided in partnership with MBS Live and provided exclusively to MBS Live Subcribers.

Average Mortgage Rates

Rate Change Points
30 Yr. Fixed 7.41% -0.10 --
15 Yr. Fixed 6.84% -0.06 --
30 Yr. FHA 6.88% -0.11 --
30 Yr. Jumbo 7.60% -0.07 --
5/1 ARM 7.50% -0.05 --
Source: Mortgage News Daily
Rate Change Points
30 Yr. Fixed 7.24% +0.11 0.66
15 Yr. Fixed 6.75% +0.11 0.64
30 Yr. FHA 7.01% +0.11 0.94
30 Yr. Jumbo 7.45% +0.05 0.56
5/1 ARM 6.64% +0.12 0.87
Source: The Mortgage Bankers Association
Rate Change Points
30 Yr. Fixed 7.17% -0.27 0.00
15 Yr. Fixed 6.44% -0.32 0.00
Source: Freddie Mac
CONTACT ME

Market Data

MBS Price Change
UMBS 5.5 97.50 +0.42
UMBS 6.0 99.46 +0.40
UMBS 6.5 101.08 +0.34
GNMA 5.5 98.37 +0.31
GNMA 6.0 100.48 +0.27
GNMA 6.5 101.49 +0.23
US Treasuries Yield Change
2 YR 4.962 -0.079
5 YR 4.649 -0.067
10 YR 4.632 -0.051
30 YR 4.752 -0.032
Pricing as of: 5/1 7:46PM EST

Recent Housing Data

Value Change
Mortgage Apps Apr 24 196.7 -2.67%
Building Permits Mar 1 1.46M -3.95%
Housing Starts Mar 1 1.32M -13.15%
New Home Sales Mar 1 693K 4.68%
Pending Home Sales Feb 1 75.6 1.75%
Existing Home Sales Feb 1 3.97M -0.75%
Builder Confidence Mar 1 51 6.25%

Recent News