Posted To: MBS Commentary

Lock vs Float Considerations With Rates at All-Time Lows Stocks and bond yields are still in holding patterns relative to early June volatility. Meanwhile, mortgage rates are at all-time lows. There are scenarios where rates could improve, but the base case is quite the opposite. All of the above depends on coronavirus. Econ Data / Events 11:30-11:50 AM (ET) – Fed 30yr UMBS Buying Pending Home Sales: +44.3% vs +18.9% f'cast (-21.8% prev) Market Movement Recap 07:50 AM No major news overnight. 10yr yields up 1.3bps to .653. UMBS starting the day down 3 ticks (0.09). Stocks up half a percent (futures). 10:29 AM Stocks slumped a bit at the 9:30am NYSE open. Bonds improved at the same time and are holding those gains even though stocks have bounced back. MBS and Treasuries both now just barely…(read more)

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Source: Mortgage News Daily