Good morning and happy Fed hump day! Finally, we have housing news! We started with Mortgage Applications for the week ending June 10 at 6:00 central. It followed a -6.5% reading last week and down numbers 12 of the past 15 weeks to gain today at +6.6%. Next, we heard from the homebuilders (NAHB) at 9:00 with their June Housing Market Index. In May, we got a 69 reading, and the street was calling for and got a 67 today. The big news today is the Fed will announce its rate move at 1:00 pm central time. Economists are looking for an upward move in Fed funds of between .50-.75.
Bonds today are being bid up. 10yr T-Notes are +26/32 to yield 3.37%. MBS are likewise up, with FNMA 30yr 4.50% +18/32 to $98-28, which is a 4.68% yield and +125 basis points to the 8yr treasury curve. Have a great day and call or email with your MBS and loan inquiries.
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.
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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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