42 billion of 5 year notes hit the screen to yield 2.54% with 49% going to the Indirect bid. Direct bidders (Wall Street) took 14% with a bid to cover of 2.75 to 1 (average is 2.69%). Good news is that the yield came in on the screws (no tail), bid to cover was above average, and Indirect buyers were strong. Not so good news is that the “street” stayed away. We’ll give it a B. Market reaction has been one that has stabilized the down draft (stopped the selling). Next market mover will be the FOMC. Buckle up!
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- Daily oscillators are still posting positive readings and holding above midrange levels – all good things for those that want lower mortgages/better pricing
- Dallas Zip Code Map – Fort Worth Zipcode Map – DFW Zip Code Maps
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- Austin Mortgage Market Update – For the week of November 15, 2010
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- We see the selling as shallow into the later part of the week and then a rebound/rally to deliver better mortgage pricing as we close the book on July
- Texas Mortgage Rates Moved Higher This Week
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