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Negative Reprice Risk Increasing For a Few Lenders
  Mortgage Market ALERT
May 15, 2020 11:00 AM ET

Lenders who priced very early in the morning or who offer overnight price protection are at risk of negative reprices as 2.0 coupons have given up gains.  Trading is illiquid in MBS at the moment, but Treasury yields have spiked somewhat quickly after the 9:30am NYSE open (though not necessarily because of it).  

10yr yields are now up half a bp on the day at .623%.  2.0 UMBS are down more than an eighth and trading just over 102.00.  

MBS / Treasury Market Data

UMBS 5.5
98.78
-0.24
UMBS 6.0
100.40
-0.15
UMBS 6.5
101.75
-0.10
2 YR
4.8277
+0.0303
10 YR
4.4223
+0.0454
Pricing as of: 5/17 5:59PM 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 7.09% +0.07 --
15 Yr. Fixed 6.56% +0.03 --
30 Yr. FHA 6.62% +0.07 --
30 Yr. Jumbo 7.35% +0.04 --
5/1 ARM 7.30% +0.06 --
Source: Mortgage News Daily
Rate Change Points
30 Yr. Fixed 7.08% -0.10 0.63
15 Yr. Fixed 6.61% +0.01 0.65
30 Yr. FHA 6.89% -0.03 0.94
30 Yr. Jumbo 7.22% -0.09 0.58
5/1 ARM 6.56% -0.04 0.66
Source: The Mortgage Bankers Association
Rate Change Points
30 Yr. Fixed 7.02% -0.42 0.00
15 Yr. Fixed 6.28% -0.48 0.00
Source: Freddie Mac
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Market Data

MBS Price Change
UMBS 5.5 98.78 -0.24
UMBS 6.0 100.40 -0.15
UMBS 6.5 101.75 -0.10
GNMA 5.5 99.52 -0.17
GNMA 6.0 100.78 +0.04
GNMA 6.5 101.59 +0.02
US Treasuries Yield Change
2 YR 4.828 +0.030
5 YR 4.447 +0.050
10 YR 4.422 +0.045
30 YR 4.561 +0.055
Pricing as of: 5/17 5:59PM EST

Recent Housing Data

Value Change
Mortgage Apps May 15 198.1 0.51%
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