Good morning and happy hump day! Today’s the day we finally got back to some scheduled housing news, even if it is the weekly Mortgage Applications. This time we got the week ending May 7th. We’re coming off a lackluster -0.9% for the prior week ending April 30th. The reading today got us back into the positive column with a +2.1% release. In other news today, Wall Street pundits are coming out of the woodwork to argue against the Fed continuing to keep their foot on the gas, now that Covid is easing as a threat. The most recent is Stanley Druckenmiller, who made billions, partnering with George Soros, by betting against the British pound before it collapsed in 1992. His point now is that excessive monetary printing risks damaging the dollar’s status as the world’s reserve currency.
In the bond market today the 10yr T-Note is under pressure, now down 12/32 to yield 1.66%. In the mortgage market, 30yr FNMA 2.50% are -8/32 to yield 1.81%, which is +83 basis points to the treasury curve. Have a great day and let us know if you need help with loans or MBS.
Cherry Picks
10 Year Fixed
15 Year Fixed
20 Year Fixed
30 Year Fixed
Agency CMBS
Agency CMO – 3 Year
Agency CMO – 5 Year
Agency CMO – Long End
Jim Tait is a registered representative with and offers securities through Hanover Securities, Inc. (Hanover), Member FINRA & SIPC. Although this information has been obtained from sources we believe reliable, we do not guarantee its accuracy, and it may be incomplete or condensed. This is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. Securities that may be shown are subject to availability and changes in price. Past performance is not indicative of future results. Changes in any assumptions may have a material effect on projected results.
This information from Hanover Securities is for your private use and does not constitute an offer or solicitation with respect to the sale of any security. This information was obtained from sources we believe to be reliable but we do not represent that it is accurate or complete, and it should not be relied on as such. Certain transactions may give rise to substantial risk and are not suitable for all investors. This information was based on current market indicators which may vary over time. We may from time to time buy or sell, or have long or short positions in securities identical or related to those identified herein.
Although this information has been obtained from sources we believe reliable, we do not guarantee its accuracy, and it may be incomplete or condensed. This is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. Loans and/or Securities which may be shown are subject to availability and changes in price. Past performance is not indicative of future results. Changes in any assumptions may have a material effect on projected results. This information from Banes Capital Group (BCG) and/or Hanover Securities is for your private use, and was obtained from sources we believe to be reliable. However, we do not represent that this information is accurate or complete, and it should not be relied on as such. This information is for institutional investors only, and as such certain transactions may give rise to substantial risk and are not suitable for all investors. This information was based on current market indicators which may vary over time. We may from time to time buy or sell, or have long or short positions in loans or securities identical or related to those identified herein.
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