Yesterday, MBS lost 68 bps from Friday's closing, resulting in the worst levels of 2013 resulting in the highest rates in 2013. The stock and bond markets both moved in the negative direction.
There are no economic major economic releases or Treasury auctions today.
The FNMA 3.5% coupon is trading too far below par, so many analyst's are now using the FNMA 4% coupon as the benchmark.
Pricing will improve today, but will not get back to yesterday's opening levels.
Contact a mortgage specialist today to stay on top of the market and ahead of the curve.
www.specialtyfinancialmtg.com
- Michael Corboy
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