Without any significant volatility in the bond market, mortgage rate strategy is still all about the return of the adverse market fee.  In cases where it’s already back, the outlook is more neutral, but still cautious ahead of next week’s Fed announcement.

Market Movement Recap

08:46 AM

Bonds were flat to slightly weaker overnight but have rallied back to positive territory after this morning’s CPI data.  Looks like a few traders were on guard for higher inflation.  Both MBS and Treasuries are just barely on the friendly side of ‘unchanged.’  Stock futures are up half a percent.

04:37 PM

Volatility and movement in general have been relatively nonexistent today.  MBS are 2 ticks (0.06) higher than they were this morning, but spent a vast majority of the day only 1 tick (0.03) higher.  10yr yields drifted gently lower and have been almost perfectly sideways around 0.67%.  


MBS Pricing Snapshot

Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.

MBS

UMBS 2.0

103-05 : +0-03

Treasuries

10 YR

0.6690 : -0.0150

Pricing as of 9/11/20 5:03PMEST

Today’s Reprice Alerts and Updates

8:45AM  :  Bonds Turn Green After CPI Data


Economic Calendar

Time Event Period Actual Forecast Prior
Friday, Sep 11
8:30 Core CPI (Annual) (%)* Aug 1.7 1.6 1.6
Tuesday, Sep 15
8:30 NY Fed Manufacturing Sep 5.95 3.70
9:15 Industrial Production (%) Aug 1.0 3.0
Wednesday, Sep 16
7:00 MBA Purchase Index w/e 317.7
7:00 Mortgage Refinance Index w/e 3415.1
8:30 Retail Sales (%)* Aug 1.0 1.2
10:00 NAHB housing market indx Sep 78 78
10:00 Business Inventories (% ) Jul 0.2 -1.1
14:00 FOMC rate decision (%)* N/A 0.125 0.125
Thursday, Sep 17
8:30 Building permits: number (ml) Aug 1.510 1.483
8:30 Build permits: change mm (%) Aug 17.9
8:30 Housing starts number mm (ml) Aug 1.470 1.496
8:30 Philly Fed Business Index * Sep 15.5 17.2
8:30 House starts mm: change (%) Aug 22.6
Friday, Sep 18
10:00 Consumer Sentiment Sep 75.0 74.1

By Matthew Graham , dated 2020-09-11 17:05:37

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Courtesy of Mortgage News Daily

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