Good morning and happy Monday, I hope you had a great weekend! It seems like once every quarter we have a week devoid of scheduled housing or mortgage news and this would be that week except the Mortgage Applications on Wednesday. I’ll look for interesting snippets along the way, like the ones I did find for you this morning. Although not the explosion that many expected, since the moratorium ended foreclosures are up an unhealthy 27%. This is likely not the final number as huge amounts of paperwork got behind the processing curve during the pandemic. I also have an update on the status of the rental market: With more than 6 million renters still in trouble, the question is once again “what happened to the $45 billion in rental aid?” I still believe rental evictions will ultimately pose an issue larger than that of what homeowners face from foreclosures.
Bonds are up marginally today with the 10yr T-Note +4/32 to 1.33%. MBS are flat with FNMA 30yr 2.50% at $103-25 to yield 1.47%, which is +84 to the 4yr treasury curve. Have a great day and call or email for help with MBS or loans!
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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