Yes to the loan that unlocks the joy of home ownership.
Yes to the lending solution that meets every client’s unique needs and wants.
That’s why we dedicate our every resource to serve as your personal guide through the lending process, solving problems, building confidence. Aslan has access to every lending option leading to the purchase or refinance of a residential home loan.
This is more than work for us. It is our unique joy in this life to share our collective skill, creativity, and care to bring you and your family right to where you belong.
Without any market moving econ data on Tuesday, bonds finally managed to find a bid. Or at least that's how it seemed during domestic hours. When considering the overnight session, we actually saw yields hit their lows of the day before the open, sell-off a bit at 8:20-8:40am surrounding a weekly employment update from ADP, and then return to the best levels mid-day. The 7yr auction was slightly weaker, but bonds didn't mind (perhaps just relieved to have supply in the rearview). With tomorrow's Fed cut a 100% certainty, volatility potential depends on Powell's press conference as well as whether or not the Fed makes any sort of announcement to end quantitative tightening (something that has been increasingly speculated by trade desks). The QT news wouldn't be as big as it sounds, but it might help a bit (or hurt a bit if it's not announced).
2 way volatility early. MBS back to unchanged. 10yr still weaker, up 1.8bps at 3.993
12:52 PM
MBS up 1 tick (.03) and 10yr up just under 1bp at 3.983
02:11 PM
minimal reaction to 7yr auction. It was slightly weaker than expected, but yields are a hair lower since before the auction. 10yr up 0.6bps at 3.98 and MBS still up 1 tick (.03).
04:19 PM
Heading out at the best levels of the day with MBS up an eighth and 10yr down 0.2bps at 3.973
Lock / Float Considerations
Rates are the lowest in a year ahead of Wednesday's Fed announcement. As always, the rate cut is fully priced in and the other info that comes out with the announcement could push rates EITHER higher or lower.
Yes to the loan that unlocks the joy of home ownership.
Yes to the lending solution that meets every client’s unique needs and wants.
That’s why we dedicate our every resource to serve as your personal guide through the lending process, solving problems, building confidence. Aslan has access to every lending option leading to the purchase or refinance of a residential home loan.
This is more than work for us. It is our unique joy in this life to share our collective skill, creativity, and care to bring you and your family right to where you belong.
