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Negative Reprice Risk Increasing
  Mortgage Market ALERT
Jul 06, 2017 11:10 AM ET

We were hoping it wouldn't happen, but now it has.  Bonds have broken beyond the day's previous lows with Fannie 3.5 MBS now down 9/32nds on the day to 102-11.  This is more than an eighth of a point from some lenders' rate sheet print times.  10yr yields are also at the weakest levels of the day, up 6.2 bps at 2.389.

This alert applies mainly to early/aggressive lenders.  It would take several more ticks of weakness for the average lender to consider repricing.

MBS / Treasury Market Data

UMBS 5.5
98.29
+0.43
UMBS 6.0
100.09
+0.31
UMBS 6.5
101.59
+0.17
2 YR
4.8192
-0.0545
10 YR
4.5138
-0.0657
Pricing as of: 5/3 5:04PM EST
This Mortgage Market Alert is provided in partnership with MBS Live and provided exclusively to MBS Live Subcribers.

Average Mortgage Rates

Rate Change Points
30 Yr. Fixed 7.28% -0.09 --
15 Yr. Fixed 6.75% -0.07 --
30 Yr. FHA 6.70% -0.12 --
30 Yr. Jumbo 7.48% -0.07 --
5/1 ARM 7.35% -0.07 --
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 7.22% -0.22 0.00
15 Yr. Fixed 6.47% -0.29 0.00
Source: Freddie Mac
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Market Data

MBS Price Change
UMBS 5.5 98.29 +0.43
UMBS 6.0 100.09 +0.31
UMBS 6.5 101.59 +0.17
GNMA 5.5 99.03 +0.42
GNMA 6.0 101.03 +0.29
GNMA 6.5 101.78 +0.15
US Treasuries Yield Change
2 YR 4.819 -0.055
5 YR 4.503 -0.069
10 YR 4.514 -0.066
30 YR 4.671 -0.058
Pricing as of: 5/3 5:04PM 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