Patrick Smith
Executive / Management / Banker
Integrated Funding
P: (919) 847-2766
4098 Barrett Dr
Raleigh NC 27609
License:
67369
MBS & US Treasury Markets
UMBS 6.0
100.46 +0.03
GNMA 6.0
100.57 +0.02
UMBS-15 5.0
99.69 -0.07
10 YR TREAS
4.475 +0.043
30 YR TREAS
4.889 +0.148
4/10 8:17:53PM EST : Delayed Data
30YR UMBS 6.0 30YR GNMA 6.0 15YR UMBS 5.0 10 Year Treasury 30 Year Treasury
Negative Reprices Becoming Increasingly Likely
Thu, Apr 10 2025, 3:24 PM

MBS are now down 14 ticks (.44) on the day and from many lenders' rate sheet print times.  If you haven't seen a negative reprice yet, the odds are getting very high. 

10yr yields are up 5bps at their weakest levels of 4.402.

We'll discuss "why" in today's recap.

MBS Morning:
CPI Finally Drops Big, Just in Time to be Irrelevant
Alert:
Negative Reprice Risk Increasing
11:19 AM

Paradoxically modestly weaker after CPI data.  MBS down 5 ticks (.16) and 10yr down 1.3bps at 4.34 ( up from lows of 4.29+).

12:13 PM

Weakest levels.  MBS down nearly 3/8ths and 10yr up 2bps at 4.373

03:30 PM

New lows, down almost half a point in MBS and up 5bps at 4.40 in 10yr yield.

Patrick Smith
Executive / Management / Banker
Integrated Funding
P: (919) 847-2766
4098 Barrett Dr
Raleigh NC 27609
License:
67369
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Reproduction or redistribution this newsletter, outside of the distribution services provided, is prohibited. Interest rate data provided in this newsletter are national averages. Rate/APR terms may differ. All information provided "as is" for informational purposes only.