Good morning, everyone, and happy Monday! We’ll publish some scheduled housing releases tomorrow, but there are a couple of interesting stories out there today. First, the lack of affordable housing has pushed first-time buyers away from the table. The number of multiple bidders per house is dropping as May averaged 5.1 bidders, where August sat at 3.8. Second, the reasoning with which some originators report higher or lower numbers than the published, specifically the weekly Freddie Mac reported numbers. Freddie sends out their rate survey every weekend to thousands of originators, with most reporting back Monday morning. However, the deadline is Wednesday, and so many results are reported on Thursday. Why isn’t everyone required to report same day and same time? Their current “Brunswick stew” reporting method is confusing for many people.
Bonds today are down in price, with the 10yr T-Notes -8/32 to yield 1.48%. In MBS, 30yr FNMA 2.50% are UNC at $103-06 which yields 1.65% and is +85 to the treasury curve. Have a great day and let us know if you need help on MBS or loans!
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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.
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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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