Good morning and happy Monday! We’ll start picking up some scheduled housing news as the week progresses. Today is very light. There are a couple of things worth mentioning, beginning with FNMA 30yr 2.50% for Jan settlement. Last week they closed in the very high $101’s for most of the week. As Dec settlements approached (Dec 13), the month rolled off the board, and Jan became the new current coupon trading 7/32 cheaper than Dec. Next up, warning signs popped up over the weekend news telling the story about the huge U.S. national debt “potentially” hamstringing the Fed and collapsing the economy. In mortgage broker news of the absurd, a weekend brawl developed in Atlantic City when two companies had their differences during a realtor’s convention.
Bonds today are higher in price, with 10yr T-Notes +12/32 to yield 1.44%. In MBS FNMA 30yr 2.50% moved back over $102 to $102-03, which is a 2.03% yield and wider at +78 to the 5.2yr treasury curve. That’s all from MBS today. Have a great Monday and call or email with your MBS or whole 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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