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The Financial News & Information Service
Novato, CA , USA • 800-273-9995
Provider of market information to lenders, realtors, title companies and investors since 1989. Have you seen our 'personalized' newsletters designed to increase your business?

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Thu. 5/8/08, day 129 with 237 days left in 2008
Quotes below as of 10:00 AM (EDT)

Long Bond Yield : 4.59% - 10-year T Note : 3.84%
Fannie Mae 10 day delivery rate : 5.65%

30Y/Fannie yield spread : 106 BP
10Y/Fannie yield spread : 181 BP

10-Day Delivery rate a month ago : 5.53%
10-Day Delivery rate a year ago today: 6.10%

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Good Morning Lenders. The text that follows is only a partial 'thumbnail' of what appears in our publication Daily Economic Insights." Please see instructions below if you would like to see some free samples.

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In spite of it being an econonews ‘lite’ day we have much to discuss in our Daily Newsletter in an effort to give a coherent explanation of what is driving the credit markets in the face of perceived higher levels of inflation ahead. If you were ever at a loss to explain to your clients what is really driving home loan rates, this is one issue that you must read.

This morning the Labor Dept. told us that initial claims for jobless benefits fell by more than anticipated by the market “experts,” giving rise to the hopes of stock investors. We also heard this morning that March wholesale inventories fell when they were expected to rise. There is an auction today of $6 billion of 30-year long bonds by the Treasury Dept. completing the quarterly refunding of debt. What is the relevance of each of these items? That will be the primary focus of today’s daily newsletter.

This morning both the Fannie Mae and Freddie Mac delivery rates are the same as they were at the close yesterday.  This is an improvement relative to this time yesterday and that should be reflected in this morning’s rate and fee configurations from wholesale lenders. Where is the delivery rate (and the credit markets) likely to head from here? You can either read about it this morning in our Daily Edition of Economic Insights 2008, or wait until after the fact to find out, so… Stay tuned.

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