Delivered to over
70,000+ industry professionals
each day, the Daily Newsletter is the
definitive recap of the day's most
relevant mortgage and real estate news and data. View the latest Newsletter below.
View our most recent newsletter below, or use the date selector to view past newsletters.
Weaker Start, But MBS Outperform
The week got off to a weaker start with most of the losses seen during the overnight session, but gradual ongoing selling during domestic hours. There were no overt market movers behind the weakness unless we want to give credit to anxiety over the Treasury auction cycle or technical resistance. Even if auctions aren't the source of the outright weakness, they do likely have a hand in helping MBS outperform today. 5.5 UMBS were only down about an eighth of a point while Treasuries with comparable durations had lost roughly twice as much ground (implication being that MBS don't have to worry about 3 big supply gluts to start the week).
Market Movement Recap
09:44 AM Moderately weaker overnight and now choppy/sideways. 10yr up 3.9bps at 4.241. MBS down an eighth.
11:01 AM Treasuries underperforming with 10yr up 4.7bp at 4.249. MBS down 5 ticks (.16).
03:35 PM MBS continue outperforming, down only 3 ticks (.09). 10yr up 5.1bps at 4.253.
MBS Commentary
|
|
Weaker Start, But MBS Outperform
The week got off to a weaker start with most of the losses seen during the overnight session, but gradual ongoing selling during domestic hours. There were no overt mark... (read more)
|
|
Mortgage Rate Watch
|
|
Mortgage rates enjoyed a decently strong week last week, with the average top tier conventional 30yr fixed rate moving down to 6.91% by Friday from 7.09% on the previous Friday. To put today's "unchanged" headline in perspective, that same numb... (read more)
|
|
Rob Chrisman
|
|
Here in Louisville, KY, at the TMC event, this one is making the rounds. “What does a real estate agent’s wife say if she can’t sleep? ‘Honey, tell me about your day at work.’” Inventory continues to be low. While lenders everywhere seem concerned ab... (read more)
|
|
|
|
|