MBS MORNING: Watching Profit Takers and the Stock Lever
Posted To:MBS Commentary
From what I am seeing, you should have your best rate sheets of the year this morning. Besides the fact that lenders are desperate for loan production, “rate sheet influential” MBS prices and benchmark Treasury yields have broken out of a month long range and are now trading at their most aggressive levels since mid-December. The FN 4.0 is currently +0-15 at 97-25 yielding 4.212% and the FN 4.5 is +0-13 at 100-25 yielding 4.425%. The secondary market current coupon is 4.404%. FN 4.5s havent seen 100-25 since December 21, 2009. The 3.375 coupon bearing 10 year Treasury note is +0-16 at 97-16 yielding 3.68%. While the month long range has been broken, 3.68% resistance must be successfully tested if we are too see further progress. Testing testing… Soft econ data helped us out this…(read more)
This mortgage update is brought to you by: Adam Quinones – You can read the full article at MBS MORNING: Watching Profit Takers and the Stock Lever
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