MBS Day Ahead: Friendly Bond Bounce Continues as 10s Target 1.0%

Posted To: MBS Commentary With 10yr yields breaking the 1.075% technical floor on Monday, the bond market added evidence to the case for a move back to 1.0%. Today's early gains make the evidence nearly overwhelming with yields less than half a basis point away at times. With the Fed coming up this afternoon, it […]

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Residential Spending Continues to Lead Construction Numbers

Total spending on construction projects in the U.S. rose 0.9 percent in November compared to October. The U.S. Census Bureau estimated that the seasonally adjusted annual spending on all types of construction was $ 1.459 trillion during the month compared to $ 1.447 trillion the prior month, an 0.9 percent increase. The rate was up […]

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Homebuyer Sentiment Continues Previous Decline

Fannie Mae’s Home Purchase Sentiment Index (HPSI) faltered a bit in July as it tried to recover from its 29.5-point aggregate plunge in March and April. The index, derived from six questions on the National Housing Survey (NHS), decreased 2.3 points in July to 74.2.  Three of the components deceased from June levels, led by […]

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