Notes, bonds, and mortgage backs have slipped as we go into the last hour and a half of trading

Notes, bonds, and mortgage backs have slipped as we go into the last hour and a half of trading.  Stocks have been pinched as well, down 75 points on the big board.

With the note off 8/32’s, mortgage backs off 8/32’s, and the 30 year bond down 26/32’s, the trade seems more about consolidation and squaring up before a flood of supply Tuesday through Thursday.  That supply will come in the form of 2 year notes, 5 year notes, and 7 year notes totaling 113 billion.  We don’t see this going too far but just the same, caution is advised.

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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