Home Decor You Should Thrift Instead of Buy New, According to … – Real Simple
Home Decor You Should Thrift Instead of Buy New, According to … Real Simple
Home Decor You Should Thrift Instead of Buy New, According to … Real Simple
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Mortgage application activity declined from an early 2023 surge, as a rapid rise in interest rates kept borrowers away last week, the Mortgage Bankers Association reported. The MBA’s seasonally adjusted Market Composite Index, a measure of weekly application activity based on surveys of association members, dropped 5.7% from seven days earlier for the period ending … [Read more…]
“Resilience” has been the theme of the past several trading days as 10yr yields have held the ceiling at 3.98%. That ceiling is now facing its most legitimate threats after several economic reports suggest persistent price pressures. This began in the overnight session with Germany’s many inflation reports and continued domestically after the “prices paid” component of the ISM Manufacturing data came in at 51.3 vs forecasts of 45.1. To be clear, the ISM data was/is today’s most relevant event for bonds. Fed Funds Futures had been drifting toward higher rates between 9 and 10am but have definitely seen their sharpest movement after ISM.
First five-year fixed mortgage under 4% since mini-budget launched by HSBC The Guardian
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Fannie Mae’s Economic and Strategic Research Group said the month-over-month jump likely reflects the temporary decline in mortgage rates and general volatility in the series. “New homes for sales dipped 2.9% to 439,000, though the number of new homes for sale that is completed rose slightly,” the group noted. “The month’s supply declined eight-tenths to … [Read more…]
More Signs of Resilience Amid Month-End Buying Spree It was a generally resilient day for the bond market after a bit of a scare in the morning. European inflation data caused a sell-off in EU bonds that spilled over to Treasuries overnight. Selling continued in the first few hours, but bonds began to recover after a slightly weaker Chicago PMI report. A calm, sideways mid-day gave way to stronger buying as month-end trades crowded in before the 3pm CME closing bell. Month-end buying aside, bonds were already showing a good amount of resilience by holding their ground in spite of the European influence. Econ Data / Events Case Shiller Home Prices -0.5 vs -0.5 f’cast/prev FHFA Home Prices -0.1 vs -0.1 prev Chi PMI 43.6 vs 45.0 f’cast Consumer Confidence 102.9 vs 108.5 f’cast, 106.0 prev Market Movement Recap 08:39 AM Moderately weaker overnight with Europe leading the way. Slight recovery early. 10yr up 2bps at 3.943. MBS down 3 ticks (.09). 12:31 PM Nice bounce back after 10am. 10yr up only 1.2bps at 3.934. MBS down only 1 tick (0.03). 03:23 PM Progressively stronger into the 3pm CME close with month-end buyer helping yields turn green. 10yr near unchanged on the day. MBS down only 1 tick (0.03).
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