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Edging Back Into Riskier Territory
Posted to: Micro News
Thursday, February 7, 2013 3:30 PM

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After the 3pm Treasury close, bond markets are under a small amount of incremental selling pressure and MBS continue to struggle vs Treasuries. Fannie 3.0s are 2 ticks into negative territory now, roughly in line with prices that prevailed during the first round of rate sheets today (103-12).

10yr yields are up to 1.9532, right on the pivot point that we were eyeing earlier in the day. As of right now, we're not in the throes of an ugly afternoon meltdown--more like "late day, light liquidity." It's taking a bigger toll on MBS, but doesn't necessarily connote continued selling. That may change, and we'll let you know if does.

The current weakness may constitute a small incremental increase in negative reprice risk for lenders that are either faster to react, or who priced later in the morning.

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Mortgage Rates:
  • 30 Yr FRM 3.67%
  • |
  • 15 Yr FRM 2.95%
  • |
  • Jumbo 30 Year Fixed 3.62%
MBS Prices:
  • 30YR FNMA 4.5 108-28 (0-00)
  • |
  • 30YR FNMA 5.0 110-17 (-0-04)
  • |
  • 30YR FNMA 5.5 111-30 (0-02)
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%