Good morning and happy hump day! Today was a big news day, with Mortgage Applications early, then Housing Starts and Building Permits for Oct. Mortgage Applications for the week ending Nov. 12 followed a strong +5.5% for the prior week and came in -2.8% today. On the Housing Starts and Building Permits numbers, the street was looking for +1.5% and +2.8% respectively and got -0.7% and +4.0%. Tying up loose ends, we had the builder’s sentiment report yesterday, and their Housing Market Index came in higher than expected at 83. They were looking for an unchanged 80 on it.
In other news today, rents for single-family homes rose 10.2% in Sept. year-over-year. High prices in the for-sale market and job growth boosted the percentage. If you haven’t looked at your property taxes recently, they’re also up about that much, give or take.
In the bond market, 10yr T-Notes are +4/32 to yield 1.62%, and in MBS Fannie, 30yr 2.50% are +3/32 to $102-10, which is a 1.97% yield and +72 to the 5yr treasury curve. That’s it from MBS central. Have a great day and call or email with your 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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