MBS Rally Holds Steady Despite Strength in Equities

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Posted To: MBS Commentary

Since the last piece of economic data for the week was released at 9:55am, MBS have been in rally mode, recently meeting resistance at their highest levels in nearly a month. On Wednesday we said that 101-28 was the bullish target we needed to hit in order for Best Execution C30 loan pricing to improve to 4.875%. That happened yesterday. We hope you're not complaining about loan pricing spreads because we feel lenders are actually being quite giving at the moment. After hitting 101-27 following Consumer Confidence data, Fannie 30yr 4.5 MBS haven't gone any lower than 101-25...despite a sustained stock market rally. And while this is no guarantee that this tight range will continue to hold through the close, it has resulted in some reprices for the better, and more may follow if these levels...(read more)

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Source: www.mortgagenewsdaily.com

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