September new home sales were much higher than expected

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Published Date 10/25/2023

The 10 year note at 8 am 4.84% +2 bps after declining 3 bps yesterday.

US debt is climbing like ivy on a wall. Powell and other policymakers have indicated the surge in longer-term Treasury yields may reduce the case for continuing to hike the central bank’s benchmark interest rate, the FOMC meets next Wednesday and Thursday. Tomorrow the ECB is scheduled to meet.

At 9:30 am the DJIA opened +85, NASDAQ -98, S&P -19. 10 year at 9:30 am 4.89% +6 bps. FNMA 6.5 30 year coupon at 9:30 am -24 bps from yesterday’s close and -5 bps from 9:30 am yesterday.

At 10 am September new home sales, expected at 685K from 675K in August, sales reported with a nice increase to 759K; details this afternoon.

At 1 pm Treasury will auction $52B of 5 year notes.

Source: TBWS

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Superior Funding Corporation is a Massachusetts Mortgage Company. Massachusetts Mortgage Lender and Broker License: MC2972, NMLS ID: 2972.

Roman Shulman

Mortgage Professional

NMLS: 11481

Superior Funding Corporation

343 Washington Street, Newton MA

Company NMLS: 2972

Office: 617-938-3900

Email: rshulman@sfcorp.net

Web: http://sfcorp.net