Good morning and happy Monday! We have nothing scheduled this morning in housing news and it appears to be a tranquil news day in general. However, we did find a couple of things in our early morning travels. First up, Calculated Risk reports the number of mortgages in forbearance has dropped below 1 million for the first time as of Nov. 30. Next up, the Fed speeding up the taper timeline has brought up conversation of their damaging the economy (again) or, at a minimum, creating another Taper tantrum. International note: The UK and China are both on the cusp of undertaking an easing of credit in their respective housing markets. We mention this merely because this is the broad-based, critical lens that our Fed could be viewed through if they over-tighten.
In the bond market today 10yr T-Notes are -15/32 to yield 1.39%. In MBS, FNMA 30yr 2.50% are -4/32 to $102-13, which is a 1.97% yield and +76 basis points to the 5.3yr treasury curve. That’s it for today. Have a great day and call or email with your MBS or whole 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.
This information from Hanover Securities is for your private use and does not constitute an offer or solicitation with respect to the sale of any security. This information was obtained from sources we believe to be reliable but we do not represent that it is accurate or complete, and it should not be relied on 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 securities identical or related to those identified herein.
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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