Good morning and happy hump day! Today is a big scheduled news day for housing. In the early release, we got Mortgage Applications for the week ending Jan. 14. It’s coming off a +1.4% in the prior week and came in higher today at +2.3%. Next, we got the double whammy of Housing Starts and Building Permits for Dec. The street was looking for pullbacks of -1.7% and -0.8% respectively after big up numbers of +8.1% and +3.9% (revisions) in Nov. We got improvements here also with +1.4% and +9.1% In other news, the builders reported yesterday and had a small miss, reporting 83 on their Housing Market Index when everyone expected 84. The reason given was supply chain concerns and inflation. These are stories we’ll hear more from this quarter.
Bonds today are marginally higher, with the 10yr T-Note +5/32 to yield 1.86%. In MBS FNMA 30yr 3.00% are +8/32 to $101-28, which is a 2.54% yield and +92 to the 4.8yr treasury curve. Have a great day and call or email with your MBS and loan inquiries.
Cherry Picks
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15 Year Fixed
20 Year Fixed
30 Year Fixed
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.
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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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