Lykken on Lending

Lykken on Lending

A Weekly Podcast by Mortgage Professionals

Jobs are the “Rock Brigade” – TMSpotlight by Les Parker

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9.9.24 Jobs are the “Rock Brigade”
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Jobs are bangin’ on their drums, bangin’ on Bonds’ door, wavin’ their flags, tellin’ Bonds to score. Watch out for the Rock Brigade.

On the eve of Fed easing, inversion ended between the 10-year and 2-year Treasury Notes as Job weakness gained momentum. Flash indicators across the globe showed economic sluggishness, with China leading the way.

Since January 2023, mortgage rates have reached their lowest level, but more labor data weakness is needed to drop further. With the 10-year yield revisiting 3.67, look to see 3.48 while lagging the short end. Regardless, look for our target of sub-6% by the end of the year, which is only 28 BPS away.
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Song: Rock Brigade (1980) Def Leppard

Les Parker, CMB Managing Director, Transformational Mortgage Solutions

Les Parker

Les Parker is the Managing Director at Transformational Mortgage Solutions Advisory Board Member for Ainsworth Advisors; and has served as the Senior Vice President of Industry Relations and Consulting at LoanLogics, a technology and services provider focused on improving mortgage loan quality, performance, and reliability throughout the loan life-cycle. His responsibilities included managing the company’s life of loan analytics and monitoring capabilities, overseeing consulting services, contributing to the strategic planning team, and communicating with industry leaders to develop and maintain positive relationships. He focused on identifying threats and strategic opportunities.

Parker has executive mortgage banking experience in capital markets, servicing, operations, production, and financial management. Parker has served as director of the largest private issuer of CMOS. His educational background covers music, religious studies, mortgage banking, mathematics, and business administration. Parker holds a BBA in Finance, and other degrees, and has held numerous securities licenses. Parker is a Master Certified Mortgage Banker, a designation conferred by the Mortgage Bankers Association. Parker writes, speaks, and provides audio content,  Since the late 1980s, he publishes a daily newsletter connecting global macroeconomics to the US interest rate movement.