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MBS RECAP: Here's The Only Reason Mortgage Rates Have Moved Lower Recently
Jun 2 2020, 3:11PM

 "Because they were so much higher than they should have been in March and April..."  Seriously, that's the reason mortgage rates have been able to move lower even as Treasury yields and MBS prices suggest moderately higher rates.  We discuss this in greater detail in the video and in the Day Ahead.

Econ Data / Events
Market Movement Recap
08:20 AM

Treasuries were stronger in Asia but yields moved higher during European hours.  Equities markets at home and abroad generally followed the same pattern (i.e. prices were lower in Asia and higher in Europe).  MBS are starting the day an eighth of a point weaker.

12:38 PM

For the 2nd day in a row, the close of European markets is creating some small-scale volatility in the US.  This time, it's in the other direction.  Treasury yields are moving higher and MBS are back in line with the morning's lows (down about an eighth of a point on the day).

03:05 PM

After the last entry, bonds weakened just a bit more before bouncing.  MBS have made up almost half of those losses, but are still down an eighth of a point from the morning's highs.  10yr yields are up 1.3bps on the day at .68%.  Lots of pressure from corporate bond issuance today (here's how that works).

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
UMBS 2.0
101-30 : -0-02
10 YR
0.6790 : +0.0170
Pricing as of 6/2/20 3:09PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
12:43PM  :  ALERT ISSUED: MBS Down an Eighth of a Point
8:38AM  :  Weaker to Start, But Bouncing Back

About the Author

Chief Operating Officer, Mortgage News Daily / MBS Live
A former originator, Matthew began writing for Mortgage News Daily in 2007, covering a wide range of topics. Seeing a need in the marketplace, his focus increasingly shifted toward relating MBS and broader financial markets for loan originators. ... more

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More From MND

Mortgage Rates:
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  • 15 Yr FRM 2.39%
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  • Jumbo 30 Year Fixed 3.25%
MBS Prices:
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  • 30YR FNMA 5.0 110-17 (0-03)
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  • 30YR FNMA 5.5 111-22 (0-10)
Recent Housing Data:
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  • Purchase Index 3.52%