Good morning and happy hump day! We continue with scheduled housing news today with Mortgage Applications for the week ending Nov 26th, and for good measure, we’ll throw in Ward’s Total Vehicle Sales for Nov after the stock market closes. Mortgage Applications is coming off a +1.8% rise for the prior week and reversed field today for a -7.2% reading, the biggest move down in over nine months. The street is calling for auto sales to rise annually from 12.99 million to 13.4 million units. In other news, the GSE’s, Fannie and Freddie, raised their conforming loan limits 18% for 2022 to $647,200 from $548,250.
Bonds today are getting hit, with 10yr T-Notes -13/32 to yield 1.49%. In MBS, Fannie 30yr 2.50% are -5/32 to $102-09, which is a 2.00% yield and +76 to the 5.3yr treasury curve. That’s it for now. Call or email today with your MBS or 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.
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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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