June 3, 2020 - Market Update

Mortgage origination flows resumed expected levels day over day, improving by ~19% at $8.84B vs $7.43B.  The MBA Mortgage Application Index was released earlier this morning and showed a decrease of 3.9% for the week ended May 29 after rising 2.7% in the prior week.  Purchase applications were up 5.3% after rising 8.6% in the prior week.  Refi applications fell 8.6% after falling .02% in the prior week.  The avg 30yr fixed rate is now 3.37%.  FHA purchases were up by 5.6% & VA refis were down by 12.1%.

U.S. equities closed higher on Tuesday with the S&P 500 Index closing up by +25.09 points, ending at 3,080.82, the DIJA gaining +267.63 points to 25,742.65, while the NASDAQ increased by +56.33 points, closing at 9,608.38.  Equities in Asia and Europe closed higher on Tuesday with the Nikkei 225 closing up +263.22 and FTSE 100 increasing by +53.72

Marks @ 7:23am
2 Year
.170%
10 Year
.697%
UMBS 30 2.5%
103-24
UMBS 15 2%
103-05

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