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2 year notes

Home > Posts > Tag: 2 year notes

The market will need to close above this level (below in yield) or at least stay near that level to confirm a near bull trend is in the making

Technically, the rally today has formed a high volume area at 117 21 (yield of 3.68%). The market will need to close above this level (below in yield) or at least stay near that level to confirm a near bull trend is in the making. Given that so may outside influences have played a factor today, we view the move as somewhat suspicious. Not saying that we’re going to reverse in any huge way. Just cautious about any further advances (rally). Keep that in mind as the day progresses.

2010-04-27T15:54:38-05:00April 27, 2010|Austin Mortgage Market|

Seems like a good day to take advantage of the best Austin mortgage pricing in quite some time

Technically, the stealth rally has taken us to major resistance, right at the low yield mark of 3.67%. A break and close below 3.67% is needed to confirm the upside move and project that further gains (lower yields better mortgage pricing) is in the cards. With most oscillators now neutral to bullish, the only fly in the ointment is growing overbought conditions on the chart. Seems like a good day to take advantage of the best Austin mortgage pricing in quite some time.

2010-04-27T15:51:42-05:00April 27, 2010|Austin Mortgage Market|

There is still an appetite for Uncle’s paper which is a good thing for us

43 billion of 2 year notes hit the block at 1.034% with 45.2% taken by indirect bidders and those foreign central governments we talked about earlier. The auction was right on the screws (no tail), producing a bid to cover of 3.23 to 1. Very strong but then again, it’s short term paper with a maturity of 2 years. Nonetheless, there is still an appetite for Uncle’s paper which is a good thing for us. Mortgage backs have held their ground, up 3/32’s on the day.

2009-09-22T22:52:25-05:00September 22, 2009|Austin Mortgage Market|