MBS MID-DAY: Bonds Remain in June's Range After Nice Boost From Greece

Dave Wallace Realty of Ventura -

MBS MID-DAY: Bonds Remain in June's Range After Nice Boost From Greece

Posted To: MBS Commentary

Treasuries have safe haven appeal on a global scale. This is frequently seen when Asian markets are open for the first few hours of each trading day before European markets open. During that time, Treasuries are one of the most logical assets in the search to avoid risk-- especially when the risk is focused on Europe. As such, it's not uncommon for overnight (and especially "over-the-weekend") events to have their biggest impact on domestic rates before 3am. This was the case today as 10yr yields opened at 2.274 and traded mostly under 2.30 before Europe cam on line for the day. From that point on, rates drifted gently higher, despite remaining in positive territory day-over-day. By the start of the domestic session, 10yr yields were just over 2.30 and MBS opened just over a quarter...(read more)

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Source: www.mortgagenewsdaily.com

Construction Spending maintains new $1 trillion Plus Pace

Posted To: MND NewsWire

Construction spending in the public and private sectors increased slightly in May to a seasonally adjusted annual rate of $1,035.8 billion . The figure was up 0.8 percent from the April number which was, however substantially revised from $1,006.1 billion to $1,027.0 billion. The Census Bureau estimate of May spending, which includes construction put in place in residential and 16 other categories such as lodging, education, and health care, was 8.2 percent higher than expenditures of $957.6 billion in May 2014. During the first five months of 2015 spending has totaled $382.1 billion, a 5.9 percent increase over the year-to-date figure a year earlier. Total residential spending - the bulk of which is in the private sector - was at a seasonally adjusted annual rate of $366.1 billion in May,...(read more)

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Source: www.mortgagenewsdaily.com

5453 Aylesbury Ln #314, Sarasota, FL 34241, $129,900 2 beds, 2 baths
2000 sqft, 2 beds, 2 baths, mobile home in Sarasota, FL - 34241
Source: www.trulia.com

New Suit "Injects Vigor" into GSE Conservatorship Challenges

Posted To: MND NewsWire

An unsigned article in the National Law Review takes another look at the Federal Housing Finance Agency (FHFA)/Treasury Department handling of the conservatorship of Fannie Mae and Freddie Mac (the GSEs) and the law suits that have challenged that handling. The article is prompted by a new suit filed by what appears to be a family of investors from Iowa which takes a different tack from suits filed earlier which, while they have not failed, have hit rough sledding in federal courts. To revisit history, in 2008 the GSEs, hit by the collapse of the housing market, falling home prices, increasing defaults, and the unwillingness of investors to purchase their mortgage-backed securities, were placed in conservatorship authority of the Housing and Economic Recovery Act (HERA). The newly created FHFA...(read more)

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Source: www.mortgagenewsdaily.com