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Stocks Tanking, Bonds Rallying on Trump Newswires
  Mortgage Market Update
May 16, 2017 11:16 AM ET

Volume and volatility spiked to the highest levels of the day over the past 10 minutes, apparently in response to newswires regarding comments made by several US lawmakers concerning Trump's intelligence tweets (from earlier this morning).  Specifically:

- TRUMP NOW RISKS U.S. ALLIES CUTTING OFF INTELLIGENCE: MCCAIN
- TRUMP DISCLOSURES SEND `TROUBLING SIGNAL' TO U.S. ALLIES:MCCAIN
- SCHUMER: INTELLIGENCE CMTE SHOULD BE GIVEN MEETING TRANSCRIPT
- US SEN SCHUMER ASSAILS TRUMP FOR 'DAMAGING' US SECURITY

10yr yields are now down 2bps on the day to 2.322 and Fannie 3.5s are up 5/32nds at 102-23.  Stocks haven't fallen quite as much relative to bond yields, but S&P futures are in line with the lowest levels in the past 24 hours.

MBS / Treasury Market Data

UMBS 5.5
97.50
+0.42
UMBS 6.0
99.46
+0.40
UMBS 6.5
101.08
+0.34
2 YR
4.9498
-0.0104
10 YR
4.6171
-0.0174
Pricing as of: 5/2 2:47AM EST
This Mortgage Market Update is provided in partnership with MBS Live and provided exclusively to MBS Live Subcribers.

Average Mortgage Rates

Rate Change Points
30 Yr. Fixed 7.41% -0.10 --
15 Yr. Fixed 6.84% -0.06 --
30 Yr. FHA 6.88% -0.11 --
30 Yr. Jumbo 7.60% -0.07 --
5/1 ARM 7.50% -0.05 --
Source: Mortgage News Daily
Rate Change Points
30 Yr. Fixed 7.24% +0.11 0.66
15 Yr. Fixed 6.75% +0.11 0.64
30 Yr. FHA 7.01% +0.11 0.94
30 Yr. Jumbo 7.45% +0.05 0.56
5/1 ARM 6.64% +0.12 0.87
Source: The Mortgage Bankers Association
Rate Change Points
30 Yr. Fixed 7.17% -0.27 0.00
15 Yr. Fixed 6.44% -0.32 0.00
Source: Freddie Mac
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Market Data

MBS Price Change
UMBS 5.5 97.50 +0.42
UMBS 6.0 99.46 +0.40
UMBS 6.5 101.08 +0.34
GNMA 5.5 98.37 +0.31
GNMA 6.0 100.48 +0.27
GNMA 6.5 101.49 +0.23
US Treasuries Yield Change
2 YR 4.950 -0.010
5 YR 4.632 -0.020
10 YR 4.617 -0.017
30 YR 4.744 -0.007
Pricing as of: 5/2 2:47AM EST

Recent Housing Data

Value Change
Mortgage Apps Apr 24 196.7 -2.67%
Building Permits Mar 1 1.46M -3.95%
Housing Starts Mar 1 1.32M -13.15%
New Home Sales Mar 1 693K 4.68%
Pending Home Sales Feb 1 75.6 1.75%
Existing Home Sales Feb 1 3.97M -0.75%
Builder Confidence Mar 1 51 6.25%

Recent News