The Daily Advisor: May 9, 2024
Three Things To Know Today
1. Tell Your Story – We Want to Hear From You!
We want to share how you are leveraging our products and programs to make a difference in your communities so we can celebrate and elevate the great accomplishments we make together. Visit fhlbc.com to see examples of how other members are making an impact and submit your information in the form share your story with us!
2. FHLBank Chicago Declares Q1 2024 Dividend
On May 3, we declared our Q1 2024 dividend. Log into eBanking through fhlbc.com and view the message center post “FHLBank Chicago Declares Q1 2024 Dividend” to read the member letter from our President and CEO, Michael Ericson.
3. Register Today for an MPF® Webinar!
Sign-up for complimentary Mortgage Partnership Finance® (MPF) webinars and receive invaluable information and training from the industry's most-respected voices.
Market Commentary
Equities finished mixed, while Treasuries finished modestly lower, with longer tenors retreating from Tuesday's levels. The market opened with modest losses after a quiet night in global markets, followed by a daylong drift inside a small range. Investors didn't receive any market-moving data and tomorrow's economic calendar will also be sparse.
Mortgage applications rose by 2.6% from the previous week, recovering from the 2.3% decline in the earlier period. This was mostly due to an 11 basis points (bps) reduction in benchmark mortgage rates to 7.18%. Applications for mortgages to buy a new home rose by 1.8% while those to refinance a home increased by 4.5%.
Disclaimer