June 4, 2020 - Market Update

Mortgage origination flows were slightly down, roughly 5% day over day at $8.42B vs $8.84B. U.S. equities closed higher with the S&P 500 Index closing up by +42.05 points ending at 3,122.87, the DIJA gaining +527.24 points closing at 26,269.89, while the NASDAQ increased by +74.54 points closing at 9,682.91.  Stocks opened mixed as new unemployment claims reported fell to 1.88 million indicating a reduction in job losses.  Investors for the most part are still looking past a week a civil unrest and tensions with China and will focus on the US labor report on Friday. 

Data Earlier today, mortgage purchase applications came in higher for the seventh week in a row and are now up 18% Y-o-Y. May private payrolls fell by a terrible 2.76 million but well below the horrendous 9 million expected! Moreover, oil prices continue to steadily rise and the yield on the 10-year Treasury closed at 0.68% and has been slowly climbing since its closing low of 0.54% on 3/9/20.

Marks @ 7:29am
2 Year
.188%
10 Year
.746%
UMBS 2.5%
103-21
UMBS 15 2%
103-02+

News Delivered to Your Inbox

hbspt.forms.create({ portalId: "6767745", formId: "e0ec9053-9814-4e36-9a6e-ff66dcd70f19" });

Recent News & Announcements