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Negative Reprice Risk Now Increasing Again
Posted to: Micro News
Friday, June 27, 2014 12:11 PM
After getting a small bounce in conjunction with the last alert, prices have fallen back to the levels that prompted the initial warning. Fannie 3.5s are still up 2 ticks on the day, but some lenders are looking at 4/32nds of weakness from initial rate sheet print times. Additionally, 10yr yields just broke to the highs of the day, albeit microscopically.
Bottom line: we're not seeing prices that will result in widespread negative reprices, but a few lenders could be considering it. More will follow if we lose another few ticks.
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