July 16th Mortgage Market Wrap-up 2

Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

Mortgage backed securities (MBS) closed up  28 basis points today at 103.62 setting a new record yet again today.  The variancee in the closing level since Friday is due to the fact that we did switch over to the 3.0% coupon today.  If you remember Wall Street typically adds about 75 basis points to the pricing of bonds when they are securitized.  That represents their profit.  Therefore the 3.50% coupon was no longer reflective of market pricing.  The 30 year remained at 3.5% today.


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
ActiveRain Community

Post a Comment
Spam prevention
Spam prevention
Show All Comments
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Jeff - Thank you for sharing detailed quality information on July 16th mortgage market wrap-up 2.

Jul 16, 2012 04:52 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?