No Whammies From Early Data Leaves Bonds Looking For Direction

Core PCE is often referred to as the Fed's preferred measure of inflation. The Employment Cost Index (ECI) has been one of the only few economic reports mentioned explicitly by Powell during press conferences in the past year. Both reports came out this morning, but both were very close to consensus. Bonds didn't do much with the data and are thus left to find their own way to comment on yesterday's attack on the 4.0% 10yr ceiling. On that note, an intermediate technical level is already emerging at 3.95. It had offered support on the way up yesterday and has acted as resistance so far today.

July 28, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary No Whammies From Early Data Leaves Bonds Looking For Direction Core PCE is often referred to as the Fed's preferred measure of inflation. The Employment Cost Index (ECI) has been one of the only few economic reports mentioned explicitly by Powell during press conferences in the past year. Both report... (read more) Rob Chrisman Home Equity, DPA, Servicing, Database Mining, Warehouse Products; Underwriting Best Practices Mortgages are only part of our lives, right? I only know what I read online, although Abraham Lincoln once said, “Don’t believe everything you read on the internet.” Before you fly down the freeway on a summer vacation, I also know that I have receiv... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.05% -0.07% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.05% -0.07 0.00 15 Yr. Fixed 6.40% -0.05 0.00 30 Yr. FHA 6.70% -0.10 0.00 30 Yr. Jumbo 7.10% 0.00 0.00 5/1 ARM 6.95% -0.09 0.00 30 Yr. VA 6.68% -0.14 0.00 Updates Daily - Last Update: 7/28 15 Yr. Fixed Rate 6.40% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.81% +0.03 0.00 15 Yr. Fixed 6.11% +0.05 0.00 Updates Weekly - Last Update: 7/27 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.87% 0.00 0.65 15 Yr. Fixed 6.37% +0.01 0.75 30 Yr. Jumbo 6.90% +0.01 0.64 Updates Weekly - Last Update: 7/26 MBS / Treasuries UMBS 30YR 5.5 99.28 +0.36 Price / Yield Change MBS UMBS 5.5 99.28 +0.36 UMBS 6.0 100.59 +0.27 GNMA 5.5 99.39 +0.33 GNMA 6.0 100.48 +0.22 Pricing as of: 7/28 5:31PM EST 10 Year US Treasury 3.9570 -0.0450 Price / Yield Change US Treasury 2 YR Treasury 4.881 -0.045 5 YR Treasury 4.181 -0.054 7 YR Treasury 4.076 -0.061 10 YR Treasury 3.957 -0.045 30 YR Treasury 4.013 -0.027 Pricing as of: 7/28 5:31PM EST Latest Video Key Fed inflation rate falls to lowest annual rate in nearly 2 years July final read on consumer sentiment downgraded to 71.6 Goldman Sachs' Jan Hatzius: A November rate hike is possible but don't expe... June pending home sales beat expectations as Midwest sees strong pricing Around the Web Eye on Housing Housing Affordability Expectations Slide Back, Again Calculated Risk Blog Inflation Adjusted House Prices 4.4% Below Peak; Price-to-rent index is 7.9% below recent peak Bloomberg BOJ Sends Yields Soaring With Surprise Change to Rate Limit Federal Reserve Agencies update guidance on liquidity risks and contingencyplanning CNBC How on-the-job training programs could help solve America's massive labor shortage Calculated Risk Blog Personal Income increased 0.3% in June; Spending increased 0.5% Marketwatch U.S. employment costs moderate in second quarter Eye on Housing Personal Income Rises 0.3% in June Calculated Risk Blog PCE Measure of Shelter Slows to 8.0% YoY in June CNBC 2-year Treasury yields fall as investors await latest inflation insights Reuters BOJ loosens grip on rates as prices rise, markets bet on bigger pivot Calculated Risk Blog Hotels: Occupancy Rate Up 0.5% Year-over-year Reuters German EU-harmonised consumer prices rise by 6.5% in July

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