Vital Statistics:
Last | Change | Percent | |
S&P Futures | 1836.4 | -4.7 | -0.26% |
Eurostoxx Index | 3086.9 | -22.1 | -0.71% |
Oil (WTI) | 97.66 | -0.8 | -0.77% |
LIBOR | 0.243 | -0.003 | -1.32% |
US Dollar Index (DXY) | 80.69 | 0.581 | 0.73% |
10 Year Govt Bond Yield | 3.02% | -0.01% | |
Current Coupon Ginnie Mae TBA | 104 | 0.1 | |
Current Coupon Fannie Mae TBA | 103.1 | 0.1 | |
RPX Composite Real Estate Index | 200.7 | -0.2 | |
BankRate 30 Year Fixed Rate Mortgage | 4.55 |
Markets are down to kick off the new year. Bonds and MBS are down. Initial Jobless Claims came in at 339k, a little lower than expected. We are scheduled to get hit with a big snowstorm this afternoon in the Northeast, so I would imagine bonds are going to become a little more illiquid this afternoon.
Some more bullish economic data – the Dec ISM manufacturing index came in a little better than expected at 57, and construction spending increased 1% month-over-month, topping expectations.
The buy-and-rent business is getting tougher. Part of the reason why the origination business has been so tough is that the most aggressive buyers these days are cash institutional buyers. Depending on who you ask, cash buyers are anywhere from 40% to 50% of buyers these days. Historically they have been closer to 20%. So even if existing home sales stay the same, the number of homes with mortgages on them could increase 45% or so if we went back to normal cash / mortgage percentages.
Filed under: Morning Report |
Hmmmmmm.
http://www.aei-ideas.org/2013/12/chart-of-the-greatest-and-most-remarkable-achievement-in-human-history-and-one-you-probably-never-heard-about/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+blogspot/mmMP+(CARPE+DIEM#mbl
LikeLike
This is in reference to above.
https://twitter.com/TPCarney/status/418738752492941312
https://twitter.com/TPCarney/status/418739186620174336
LikeLike
Should Snowden be judged on this as well?
http://www.cnn.com/2013/06/12/politics/nsa-leak/
LikeLike
Things NovaHockey said months ago:
LikeLike
I like how the new talking point is “ACA was never going to save money. it was all about expanding coverage.”
LikeLike
Why is the Abomination better than pre-abomination if it doesn’t keep people out of the ER and it reduces the overall number of uninsured?
LikeLike
McWing:
Why is the Abomination better than pre-abomination if it doesn’t keep people out of the ER and it reduces the overall number of uninsured?
And it doesn’t save money.
In all seriousness, has there ever been a bigger policy fraud perpetrated by a president on the electorate than O-care?
LikeLike
Scott, no.
Who here supports the ban on incandescent light bulbs and why?
Just curious.
LikeLike
Not me. It actually really pisses me off.
BTW, I should point out that the only marginally acceptable thing about the smoking bans is that they are state, not federal laws. But how long until the Feds decide to bring rebellious states into line?
LikeLike
Damn, the Abomination launch musta really fucked up Juicebox.
Another Obama victim.
LikeLike
give him a break – that water’s heavy…
LikeLike
Or perhaps he just wants to make a lot more $$$$$.
LikeLike
So he’s leaving the Administration and cashing out.
LikeLike
Hey now. Let’s not be too hard on him for that.
LikeLike