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MBS RECAP: Decent Day For MBS But Broader Trend Remains a Concern
Jun 23 2020, 4:16PM

Rates are low. Unless coronavirus wins (or looks like it might), rates should continue to gradually move higher, but not in a straight line.  Keep the underlying, gradual, uptrend in rates in mind on days where it seems like things are going well for bonds.  Those can be great days to lock in this environment.

Econ Data / Events
  • 11:30-11:50 AM (ET) - Fed 30yr UMBS Buying  

  • New Home Sales: 676k vs 640k f'cast, 580k prev (+16.6%)

Market Movement Recap
08:41 AM

Bonds rally and fade overnight on Navarro's China trade deal comments (and retraction).  Strong data in Europe fueled more weakness.  10yr starting out up nearly 2bps, but MBS are outperforming (trading just barely positive on the day).

11:37 AM

Stocks slid and bond yields improved modestly heading into the 9:30am NYSE open.  But both bounced simultaneously in the 10am hour.  10yr yields back up to .725 after being as low as .710.  UMBS 2.0 coupons on unchanged, down about 0.09 from the highs.

01:34 PM

Bonds bouncing back nicely after EU stock markets close.  MBS outperforming today (Treasury supply concerns).  Bond-friendly comments from PIMO regarding Fed's willingness to buy anything it takes to support markets.  Treasuries nearly unchanged, MBS up an eighth.  Positive reprice potential for aggressive lenders.

04:12 PM

No change in levels from the last update.  Gains definitely leveled off though and UMBS 2.0 seem uninterested in breaking above 102.

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
101-29 : +0-04
10 YR
0.7150 : +0.0110
Pricing as of 6/23/20 4:14PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
1:43PM  :  Bouncing Back Nicely With MBS Leading The Way
8:15AM  :  Bonds Unchanged to Weaker After False Hope Overnight

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:
  • 30 Yr FRM 3.13%
  • |
  • 15 Yr FRM 2.55%
  • |
  • Jumbo 30 Year Fixed 3.18%
MBS Prices:
  • 30YR FNMA 4.5 107-28 (-0-02)
  • |
  • 30YR FNMA 5.0 109-25 (0-01)
  • |
  • 30YR FNMA 5.5 111-14 (0-10)
Recent Housing Data:
  • Mortgage Apps 2.79%
  • |
  • Refinance Index 3.16%
  • |
  • Purchase Index 1.82%