This is a DEMO marketing message. You can use them for promotional text. Mortgage rates are moving back down so feel free to give me a call or visit my website and I'll give you a quote.
Selling has been steady, and there are no new market movers causing additional selling, but the gradual decline now brings 5.0 UMBS down an eighth of a point from AM highs. Those highs coincided with some lenders' rate sheet print times. Technically, this is the threshold scenario for negative reprice risk, but most lenders tend to price more conservatively on a day like today (which could limit some of the reprice risk we'd typically see in this situation).
Mostly flat overnight with sharper selling starting at 7am. 10yr up 5.9bps at 4.009 and MBS down just over a quarter point.
10:04 AM
a bit more weakness after ISM data. MBS down 10 ticks (.31) and 10yr up 8.8bps at 4.036
11:40 AM
New lows with MBS down 3/8ths and 10yr up 10.3bps at 4.051
03:30 PM
MBS still down 3/8ths and 10yr up 9.9bps at 4.046
A message from Matthew M. Loan:
This is a DEMO marketing message. You can use them for promotional text. Mortgage rates are moving back down so feel free to give me a call or visit my website and I'll give you a quote.
Selling has been steady, and there are no new market movers causing additional selling, but the gradual decline now brings 5.0 UMBS down an eighth of a point from AM highs. Those highs coincided with some lenders' rate sheet print times. Technically, this is the threshold scenario for negative reprice risk, but most lenders tend to price more conservatively on a day like today (which could limit some of the reprice risk we'd typically see in this situation).