Good morning and welcome to the weekend again! We don’t have any scheduled housing news today. As always, however, there are some select stories to cover. First up today, regulation is coming to the non-bank originators. Over the past decade their share of mortgage originations has risen from 6% to 60% of the loan market. The Conference of State Bank Supervisors (CSBS) has published a governing framework to cover this group. In other (unsurprising) news, the Biden administration has asked Congress to extend eviction aid, due to expire in 2 days, to the nation’s renters. This could likely happen today. Lastly, mortgage-related funds have been liquidating MBS and going to cash lately. According to Lipper, 8 of the last 10 weeks have seen net sales. Our guess is they’re preparing for a price pullback as we move closer to Fed tapering, as we predicted a week ago.
Bonds today are up, with the 10yr T-Notes +10/32 to yield 1.23%. In MBS, FNMA 30yr 2.50% are +2/32 to $104-05, which yields 1.38% and is +84 to treasuries. That’s it for today. Have a great weekend and call or email if you need any help with MBS or loans.
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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