Vital Statistics:
Last | Change | Percent | |
S&P Futures | 1747.3 | -1.2 | -0.07% |
Eurostoxx Index | 3037.2 | -1.8 | -0.06% |
Oil (WTI) | 97.48 | 0.4 | 0.38% |
LIBOR | 0.237 | -0.001 | -0.52% |
US Dollar Index (DXY) | 79.25 | 0.066 | 0.08% |
10 Year Govt Bond Yield | 2.51% | -0.01% | |
Current Coupon Ginnie Mae TBA | 103.6 | 0.0 | |
Current Coupon Fannie Mae TBA | 102.6 | 0.1 | |
RPX Composite Real Estate Index | 200.7 | -0.2 | |
BankRate 30 Year Fixed Rate Mortgage | 4.28 |
It is looking like some sort of grand bargain isn’t going to happen as we approach the budget negotiations. Democrats want to get rid of the sequester. Republicans are willing to replace the sequestration cuts with other cuts, particularly in Medicare and and other long-term expenses like Federal retirement. Tax hikes are a non-starter. Republicans are probably not anxious to re-live the shutdown either, so we probably get some sort of extension of the CR and the debt ceiling without much in the way of attacking spending.
The Morning Report will be on hiatus early next week as I will be in DC for the Mortgage Bankers Conference. Hope to see some of you there.
Finally, what if Facebook was around from WWI to WWII?
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