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Edging Into Positive Reprice Territory for Some Lenders
Posted to: Micro News
Tuesday, January 21, 2014 12:15 PM
Bond markets continue the pattern of steady gains that began late in the overnight session (just before 6am). After crossing into positive territory just after 10am, MBS are now up 2 ticks on the day at 104-03 (Fannie 4.0s).
For the earlier pricing lenders, this is 4 ticks (.125) better than the first rate sheets of the day--right on the edge of positive reprice potential. Lenders who released their first rate sheets later in the morning are only seeing 2 ticks of improvement--probably not sufficient for reprices.
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