5 year notes hit the block at 2.605% with 39.7% going to Indirect Bidders

5 year notes hit the block at 2.605% with 39.7% going to Indirect Bidders.  Bid to cover was 2.55 to 1 and the issue had a T-Rex type tail of 4 bps.  To say the least, the bond market did not like it.  Mortgage backs off a minimum of 20/32’s and the 10 year is off 40/32’s.

About Max Leaman Austin Mortgage

GREAT RATES, LOW FEES, CLOSE ON TIME™ ---- 2012 Ranked #1 Austin Residential Mortgage Lender (Austin Business Journal) 2010, 2011 & 2012 Five Star Professional (Texas Monthly) 2009, 2010, 2011, 2012, 2013 PrimeLending Chairman's Circle Award 2009, 2010, 2011, 2012 Scotsman Guide Top Originator (Top 200 Mortgage Professionals in U.S.A.) Better Business Bureau "A+ Rating" National Lender Rankings (Scotsman Guide): Top Purchase Volume (No. 10) Most Loans Closed (No. 32) Top Dollar Volume (No. 88)

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