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Bonds Reverse Course; MBS Close to Unchanged
  Mortgage Market Update
Jun 12, 2020 11:00 AM ET

After losing ground in the first 2 hours of trading, bonds have reversed course and are heading back toward 'unchanged' levels.  The move coincides with a reversal in stocks, but bonds are showing some initiative/leadership that go beyond a simple "stock lever" explanation.

UMBS 2.0 coupons are down only a few ticks now at 102-06 (102.19) after having been as low as 102 even.  10yr yields are down to .685 after being as high as .721.  

MBS / Treasury Market Data

UMBS 6.0
99.43
-0.62
UMBS 6.5
101.30
-0.42
10 YR
4.9860
+0.0952
Pricing as of: 11/10 5:59PM 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
30YR Fixed 7.30% +0.12 --
15YR Fixed 6.92% +0.09 --
30YR FHA 6.89% +0.07 --
30YR Jumbo 7.40% +0.03 --
7/6 SOFR 6.80% +0.31 --
30YR VA 6.90% +0.07 --
Source: Mortgage News Daily
Rate Change Points
30YR Fixed 7.30% +0.18 0.75
15YR Fixed 6.76% +0.33 0.98
30YR FHA 7.02% +0.24 1.07
30YR Jumbo 7.20% +0.05 0.48
7/6 SOFR 6.29% +0.19 1.00
Source: The Mortgage Bankers Association
Rate Change Points
30YR Fixed 7.18% +0.97 0.00
15YR Fixed 6.57% +1.10 0.00
Source: Freddie Mac

MBS and Treasury

Price / Yield Change
UMBS 6.0 99.43 --0.62
UMBS 6.5 101.30 --0.42
10 YR Treasury 4.986 +-0.73
30 YR Treasury 5.356 +-1.07
Pricing as of: 11/10 5:59PM EST

Recent Housing Data

Value Change
Mortgage Apps 192.6 -1.23%
Existing Home Sales 3.99M 0.25%
Builder Confidence 29 -9.38%
Building Permits 1.4M 0.43%
Housing Starts 1.22M -4.24%