Good morning and happy Monday! We’ll be getting back to scheduled housing news beginning tomorrow. In the big news today, the U.S. position as the world’s reserve currency is under attack like never before! The BRICS nations are “officially” releasing their own “new, global reserve currency.” If you’ve been living in a cave and don’t know who the BRICS are, they’re Brazil, Russia, India, China, and South Africa. They’re responsible for 25% of the earth’s land mass and 40% of its population. They’re likely to incorporate some form of asset backing to this new reserve currency using assets like gold and silver, which will likely make their reserve currency more attractive than our fiat currency to most of the world. Fiat currency is money that is only backed by the government issuing it. Fiat has no asset backing. We’ll see how this plays out.
Bonds today are lower, with 10yr T-Notes -21/32 to yield 2.83%. MBS are down with FNMA 30yr 4.50% -6/32 to $100-21, which is a 4.40% yield and +155 to the 9.1yr treasury curve. Everyone, please 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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