The S&P/Case-Shiller Composite-20 Index of property values increased 6.75% (YoY), the smallest 12-month gain since November 2012. The S&P/Case-Shiller Home Price Index rose 5.61% (YoY) vs. 6.24% prior. Treasuries fell this morning, pushing 10-Year yields up from the lowest level in three weeks, amid speculation that a strong employment report on Friday may keep the Federal Reserve on track to raise rates next year. The curve is opening flat to yesterday’s 2:00 PM (PDT) close with MBS 1-2 ticks wider to treasuryhedges.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
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