New Home sales surged +18.0% in August to a much higher-than-expected annual rate of 504K, the biggest monthly increase since January 1992. Consensus for September New Home Sales is for a decline of -6.8% to 470K (YoY). Treasuries are opening slightly higher this morning with MBS 1-2 ticks tighter to treasuryhedges, and the curve has bull flattened with 2s10s down -1.7 bps.
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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