Good morning and happy hump day! We have two news items to cover this morning: First is Ward’s Total Vehicle Sales for Dec. from yesterday afternoon, and it was a big 660k miss! Nov. put in a 12.86 million annualized number, and the street was looking to rise to 13.1 million today. Instead, it went the other direction to 12.44 million. The other item today is Mortgage Applications for the week ending Dec 31. It’s coming off a -0.6% release from the previous week and came in this morning at -5.6%. We attribute much of that to the holiday-shortened week. In other news today, pundits discuss the possibility of the housing industry losing 100k jobs this year as the housing rally winds down. We feel it’s not at all assured that housing will wind down this year, at least not that much.
Today in the bond market, 10yr T-Notes are -4/32 to a 1.66% yield. In MBS 30yr FNMA 2.50% are -4/32 to $101-15, which is a 2.20% yield and +74 to the 5.8yr treasury curve. That’s it from us. Have a great day and call or email 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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