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MBS Fully Recover After Initial Reaction to Inflation Data
MBS Fully Recover After Initial Reaction to Inflation Data There's no question that this morning's PPI data hit the bond market. The volume spike was easily higher than that seen with yesterday's CPI and the market movement left nothing to the imagination. In the big picture, a few bps of weakness i
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Mortgage Rates Officially at 6 Week Highs
Mortgage rates rose somewhat sharply yesterday to match the highest level since March 27th. They're just a hair higher today, thus officially at 6-week highs. Whereas yesterday's Consumer Price Index (CPI) didn't have an obviously negative impact on rates, today's Producer Price Index (PPI) di
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AI, CRM, Verification, DSCR, HELOC Products; Gov't Programs; Rates and Inflation, Borrower Psychology
The April FOMC Meeting concluded with the Fed leaving interest rates unchanged, and it was the last under Jerome Powell's chairmanship. Chair Powell is the first Fed Chairman to step down and remain on the Board since 1948 due to a) the Federal investigation regarding the cost of renovating the Fed'
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PPI Hit Even Harder Than CPI, But Damage is Minimal
The Producer Price Index (PPI) is much more volatile and, on average, much less of a market mover than the Consumer Price Index (CPI), but occasionally, it swings for the fences. Today's release is a clear example with the monthly headline coming in at 1.5 vs 0.5 forecast. In annual terms, headline
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