Good morning.
We had an extremely good day yesterday for rates with the FNMA coupon gaining +53bps for the day.
As I expected and posted don't panic from today's early losses as it is expected (profit takers and holiday weekend). The bonds opened today with a -22bps gap down open and since have retraced +6bps of that leaving the current FNMA 4.0 at 100.688 (still a very strong number). If you read my post from yesterday you will see I said expect a -15 - -25bps loss today so we are right in line.
No major news today, so I expect todays close to be right in line with those figures.
Have a great day and an even better long holiday weekend!
If you have questions on markets, interest rates, a loan scenario or strategy for investment properties please call or email me.
David Shamansky
US Mortgages
1745 Shea Center Dr 4th Floor
Highlands Ranch, CO 80129
720-524-8020
NMLS#245170
Equal housing lender
*above commentary is from my own personal viewpoint and research on US and global economic data and factors and does not constitute or imply a guarantee of interest rate direction.
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