Good morning and happy Friday! We talked recently about how many appraisals come in below a home’s offering price, and our first story discusses the four options you have when this happens. https://thebasispoint.com/what-to-do-when-1-in-8-home-appraisals-come-in-lower-than-purchase-prices/
Next up, the second largest home loan provider in the U.S., United Wholesale Mortgage, has stopped accepting cryptocurrencies for loan payment. They started a pilot program in Aug. to determine demand. Due to increased costs and regulatory uncertainty the pilot only lasted 2 months. The Fed/Treasury is desperate to have Congress regulate crypto’s to the ash heap. I see a huge battle brewing here.
Bonds today are down, with the 10yr T-Notes -14/32 to yield 1.56%. In MBS 30yr FNMA 2.50% are actually +2/32 to $102-26, yielding 1.82% and +80 to the 4.7yr treasury curve. Have a great day and weekend. As always, call or email us when you have MBS and loan inquiries!
Cherry Picks
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Agency CMBS
Agency CMO – 3 Year
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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.
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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