Weaker Data Reinforcing The Ceiling

Bonds had been hoping for econ data to reinforce a ceiling after a recent run to the highest yields in months and the past few days have delivered. The resilience has drawn both on the data and on several Fed speakers forwarding the notion of "skipping" the rate hike on June 14th. All this despite the debt ceiling deal passing the house and likely to pass the Senate more easily. Today's contribution comes from a big miss in Q1 labor costs (4.2 vs 6.0 f'cast) and a big drop is ISM Manufacturing "prices paid." Bonds definitely aren't stampeding toward lower levels, but they're definitely shying away from last week's ceiling. The next challenge will be a definitive break back into the previous trading range--something that would probably require downbeat data in tomorrow's jobs report.

June 1, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary Weaker Data Reinforcing The Ceiling Bonds had been hoping for econ data to reinforce a ceiling after a recent run to the highest yields in months and the past few days have delivered. The resilience has drawn both on the data and on several Fed speakers forwarding the notion of "... (read more) Rob Chrisman Webinars and Training, Construction Tracking, MERS Certification, 100% Financing, HELOC Products; Jumbo, DSCR Program News The United States has about 336 million people. Did you know that 1/3 of them live within a 500-mile radius of Nashville? This is a cool site for anyone putting together a sales presentation for a real estate agent or a borrower. Speaking of geograph... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.85% -0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.85% -0.03 0.00 15 Yr. Fixed 6.23% -0.08 0.00 30 Yr. FHA 6.50% -0.07 0.00 30 Yr. Jumbo 6.63% -0.02 0.00 5/1 ARM 6.88% 0.00 0.00 30 Yr. VA 6.51% -0.04 0.00 Updates Daily - Last Update: 6/1 15 Yr. Fixed Rate 6.23% -0.08% Rate Change Points Freddie Mac 30 Yr. Fixed 6.79% +0.22 0.00 15 Yr. Fixed 6.18% +0.21 0.00 Updates Weekly - Last Update: 6/1 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.91% +0.22 0.83 15 Yr. Fixed 6.41% +0.26 0.84 30 Yr. Jumbo 6.78% +0.21 0.76 Updates Weekly - Last Update: 5/31 MBS / Treasuries UMBS 30YR 5.0 98.70 +0.33 Price / Yield Change MBS UMBS 5.0 98.70 +0.33 UMBS 5.5 100.16 +0.30 GNMA 5.0 98.86 +0.31 GNMA 5.5 100.14 +0.31 Pricing as of: 6/1 5:31PM EST 10 Year US Treasury 3.6050 -0.0400 Price / Yield Change US Treasury 2 YR Treasury 4.345 -0.064 5 YR Treasury 3.703 -0.055 7 YR Treasury 3.658 -0.050 10 YR Treasury 3.605 -0.040 30 YR Treasury 3.821 -0.038 Pricing as of: 6/1 5:31PM EST Latest Video Fed Gov. Jefferson: Skipping rate hike at the coming meeting would allow co... Private payrolls rose by 278,000 in May, well ahead of expectations, ADP sa... A new report shows the health of luxury real estate ISM Manufacturing PMI slid to 46.9% in May Around the Web Reuters U.S. weekly jobless claims rise modestly; layoffs increase in May Calculated Risk Blog Inflation Adjusted House Prices 4.2% Below Peak; Price-to-rent index is 8.3% below recent peak Eye on Housing Despite Headwinds, Job Openings Rise Reuters In the Market: Amid the calm, the Fed brews the next storm CNBC Treasury yields climb after debt ceiling bill clears House, progresses to Senate Calculated Risk Blog ISM Manufacturing index Decreased to 46.9% in May Eye on Housing Private Residential Construction Spending Rises in April Calculated Risk Blog ADP: Private Employment Increased 278,000 in May Calculated Risk Blog Construction Spending Increased 1.2% in April Calculated Risk Blog BLS: Job Openings Increased to 10.1 million in April CNBC Treasury yields fall as investors await debt ceiling deal vote Calculated Risk Blog Lawler: Census Finally Releases 2020 Census Demographic Profile and Demographic and Housing Characteristics File Reuters Euro zone bond yields fall after inflation cools in France, Germany

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