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More Reprice Risk as Fed Cuts Buying Amounts
  Mortgage Market ALERT
Apr 17, 2020 9:18 PM ET

Bonds are falling farther, faster.  Weakness is being compounded by the Fed's updated buying amounts for news week.  Treasuries were lowered to $15bln / day from $30bln.  MBS were lowered to $8.9-10.7bln from $15.5/bln per day.  

UMBS 2.5 coupons are now down 5 ticks (.16) on the day and more than a quarter point from the afternoon highs.  10yr yields are quickly up 3.3bps on the day to .65% (after being as low as .587% earlier). 

Negative reprices are becoming likely. 

MBS / Treasury Market Data

UMBS 5.5
98.72
+0.25
UMBS 6.0
100.39
+0.19
UMBS 6.5
101.81
+0.11
2 YR
4.7163
-0.0249
10 YR
4.3602
-0.0724
Pricing as of: 7/3 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 7.08% -0.05 --
15 Yr. Fixed 6.45% -0.02 --
30 Yr. FHA 6.55% -0.05 --
30 Yr. Jumbo 7.25% -0.04 --
5/1 ARM 7.07% -0.03 --
Source: Mortgage News Daily
Rate Change Points
30 Yr. Fixed 7.03% +0.09 0.62
15 Yr. Fixed 6.56% +0.09 0.54
30 Yr. FHA 6.90% +0.11 0.95
30 Yr. Jumbo 7.11% -0.01 0.50
5/1 ARM 6.38% +0.11 0.54
Source: The Mortgage Bankers Association
Rate Change Points
30 Yr. Fixed 6.86% -0.01 0.00
15 Yr. Fixed 6.16% +0.03 0.00
Source: Freddie Mac
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Market Data

MBS Price Change
UMBS 5.5 98.72 +0.25
UMBS 6.0 100.39 +0.19
UMBS 6.5 101.81 +0.11
GNMA 5.5 99.32 +0.23
GNMA 6.0 100.53 +0.14
GNMA 6.5 101.46 +0.05
US Treasuries Yield Change
2 YR 4.716 -0.025
5 YR 4.325 -0.069
10 YR 4.360 -0.072
30 YR 4.530 -0.076
Pricing as of: 7/3 5:59PM EST

Recent Housing Data

Value Change
Mortgage Apps Jun 12 208.5 15.58%
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