The Emperor's New Clothes


Mortgage Rates – week ending 5/21/2010
May 23, 2010, 5:27 pm
Filed under: Mortgage Rates | Tags: , , ,

Very interesting week!  The stock market plummeted bringing the 10 year Treasury rate down with it.  The 10 year ended the week at 3.25%, down 31bps from a week earlier.  As might be expected, mortgage rates dropped as well.  Correspondent mortgage rates came down 21bps to 4.46% while retail rates dropped only 9bps to 4.84.  It is not unusual to see this kind of lag between the index rate (treasury), the secondary rate and the primary rate.  I would expect some catch up next week.



Mortgage Rates – week ending 5/13/10
May 13, 2010, 12:58 pm
Filed under: Mortgage Rates | Tags: , ,

Very little change in rates this last week. The correspondent par mortgage rates dropped by a little bit under 1 basis point over the last week ending at 4.67%. This despite a small increase in the 10 yr treasury (increased from 3.41 to 3.56%).

The jumbo market continued to lose luster with spreads to comparable conforming product increased from 207 to 235 basis points; almost back to its pre-Redwood securitization level.

NB. For daily pricing on a more diverse set of loan programs please visit Level 1 Loans Index or visit us at Booth 109 during the New York Secondary conference.



Mortgage Rates – week ending 5/7/2010

Correspondent par mortgage rates dropped 9 basis points over the last week ending at 4.67%; the spread over the 10 yr treasury increased from 100bp to 126bps.  The spread to the Freddie Mac primary market survey rate of 5.00% increased from 30 to 33 basis points.

The  jumbo market seemed to have lost some of the euphoria from Redwood Trust’s successful private-label jumbo securitization.  Spreads to comparable conforming product increased from 174 to 207 basis points; a still relatively attractive spread.

NB.  For daily pricing on a more diverse set of loan programs please visit Level 1 Loans Index or visit us at Booth 109 during the New York Secondary conference.