Good morning and happy hump day! We had more housing news today in the form of Mortgage Applications, which was released at 6:00 a.m. central time. This was for the most recent week ending July 23rd. The prior week we saw a -4.0% decline. Today was another flip-flop, upward this time, at +5.7%. Most of the chatter today centered around the ongoing Fed meeting and what their posture will be on mortgages going forward. While no-one expects the Fed to announce today exactly when an MBS taper will begin, the pundits will be looking for minute changes in their language that may provide hints about the future.
The bond market today is mixed with the 10yr T-Note -5/32 to yield 1.26%. In MBS FNMA 30yr 2.50% are actually +4/32 to $104-01, which is a 1.42% yield and +86 to the 4yr treasury curve. Have a great day and get our help with your MBS and loan inquiries!
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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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