Morning and happy Friday. Welcome to the weekend! Once again, we don’t have any scheduled housing news today. As we nose around, however, we find a couple of items of interest. First up, 30yr conforming rates continue to move higher, now at 5.40%. Today, a more normalized housing market is predicted to be on the way by many. What would that look like? Getting rid of food fights for available properties would be a start! However, as long as institutions like Blackrock are buying 27% of homes, the housing market can’t really be normalized, can it?
Bonds today are down again, with the 10yr T-Notes -13/32 to yield 2.87%. In MBS FNMA 30yr 4.00% are -9/32 to $99-21, which is a 4.05% yield and +113 basis points to the 5.7yr treasury curve. Call or email with your inquiries and have a great day!
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Agency CMO – 3 Year
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Agency CMO – Long End
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