8:33 am cst - All news takes a back seat today as bonds react to failed Silicon Valley Bank. The 10 year treasury at 8:33 am is down from the March 2nd high of 4.062% to today’s current yield 3.462% as of 8:36 am. Mortgage Bonds are also improving significantly.
10:22 am cst - 10 year treasury 3.479%. Today's high has been 3.716% and as low as 3.425%.
Yahoo article about Fed may pause raising rates Link
2:43 pm cst - 10 year treasury pulling back a little 3.54%. Mortgage Bonds pulling back a little also.
Consumer Price Index (CPI) coming out tomorrow at 7:30 am cst. Market expects Ex Food and Energy 0.4% monthly increase and 5.5% for a year . With Food and Energy 0.4% monthly and 6.0% yearly.
Click on this link for more information: CNBC Article on Bank Failures, Bonds and mortgage rates
Stay tuned to this Blog to find out the results tomorrow. If we get good inflation numbers tomorrow, we might see interest rates continue to improve.
For Quotes call John at 205-266-5669, or email him at john.marbury@colonybank.com
Thanks!
John
John Marbury
Mortgage Banker/Residential Lending
Cell 205-266-5669
2100 Southbridge Parkway, Suite 650
Birmingham AL 35209
NMLS# 740833
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