Show notes:
TMSpotlight:
10.02.23 Speed and Curves Often Cause A “Crash”
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Steepening goes too fast. So MBS’ gonna Crash.Higher rates in the long end than the short end annoyed mortgages. Prices fell, and coupon stack decompressed, confusing everyone from borrowers to hedgers with speeds and curves.Will last week mark the death of the bears? The 4.96 barrier to the 10 yr yield looks insurmountable. Expect rates to fall as October economic data flows. Additional support comes from bottoming Gold, topping Oil, and a steepening curve. Don’t be surprised if mortgage rates drop 25 bps.The curve and rates get messed up, too With news.With newsWith News—————————-Song: Crash (1988) The Primitiveshttps://www.youtube.com/watch?v=1y7NGqfZteg
The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute, and then Les Parker’s TMSpotlight, a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update, followed by David Kittle, Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative update, then Allen Pollack giving us a Tech Report on the latest technology impacting our industry. Finally, we wrap up the first half of the program with Marc Helm, Senior Executive Partner @ Transformational Mortgage Solutions, talking about Loan Servicing and the “Agencies”.