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Back to New Highs; Positive Reprice Potential for Early Lenders
Posted to: Micro News
Thursday, May 15, 2014 9:59 AM

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While not all lenders were out with rates yet, the early crowd is already likely to be considering positive reprices (with one already reported) as MBS push into new highs.  This follows initial weakness after the 8:30am data, a big bounce into positive territory, and a moderate correction back to unchanged levels.

After making it back to unchanged, they've improved progressively.  European bond markets continue to be the biggest driver of US bond market positivity though the 9:15am Industrial Production numbers came out much weaker than expected as well.  On a tertiary note, the geopolitical risk situation surrounding Ukraine is also likely playing into bond market strength as Russia says it will not supply gas to Europe as of June 1st if Ukraine doesn't pay for previously acquired fuel. 

MBS are up 11 ticks in Fannie 3.5s to 102-25 and 10yr yields are down 4.2bps to 2.5035.




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Mortgage Rates:
  • 30 Yr FRM 3.99%
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  • 15 Yr FRM 3.16%
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  • Jumbo 30 Year Fixed 3.91%
MBS Prices:
  • 30YR FNMA 4.5 108-11 (0-04)
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  • 30YR FNMA 5.0 110-22 (0-03)
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  • 30YR FNMA 5.5 111-22 (0-02)
Recent Housing Data:
  • Mortgage Apps 11.56%
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  • Refinance Index 23.29%
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  • FHFA Home Price Index 0.67%