Good morning and happy Friday, and welcome to the weekend! This morning we got to see if lousy housing numbers continue, as Pending Home Sales for Feb was released at 9:00 central time. The survey was expecting a slight +1.0% rise after an ugly -5.7% Jan release and was disappointed as it came in at -4.1%! Virtually every housing number we’ve seen in the past several weeks has been a miss. Housing is beginning to become suspect. Today, millennials are picking up the pace, now accounting for almost half of home sales. Remember a time several months ago when they were boxed out of the market by cash buyers paying well above the offer? Change is here.
Bonds today are on sale, with 10yr T-Notes -21/32 to yield 2.45%. In MBS FNMA 30yr 3.00% are -15/32 to $97-04, which is a 3.42% yield and +93 to the 8.4yr treasury curve. Have a great day and call or email with your MBS and whole loan inquiries.
Cherry Picks
10 Year Fixed
15 Year Fixed
20 Year Fixed
30 Year Fixed
Agency CMBS
Agency CMO – 3 Year
Agency CMO – 5 Year
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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