Good morning and happy almost weekend! Everyone’s focus today is on Unemployment and Non-Farm Payroll. We’ll see if we can dig up some MBS news, as there are no scheduled releases. First up: a Bloomberg article about MBS trading volume is picking up and shows the relative size of the Fed’s $40 billion a month in MBS purchases versus all 24 primary dealers averaging long positions of $75.9 billion, all in the most recent sample week. When the Fed stops buying MBS there will likely be a dramatic lower price correction, in the short-term at least. There’s also an excellent article about how to prevent a foreclosure. Even if this doesn’t impact you, it may help some of your friends or family, here’s the link: https://www.legalreader.com/how-to-prevent-a-foreclosure/
Bonds today are down in price moderately, with the 10yr T-Notes -9/32 to yield 1.60%. In MBS, 30yr FNMA 2.50% are -8/32 to $102-26, which gives us a 1.84% yield that is +84 to the 4.8yr treasury curve. Everyone have a great long weekend and call us or email if you need help with any MBS or 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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