Reprices Now Likely

Mortgage Market ALERT

Aug 04, 2015 1:50 PM ET

Comments from Atlanta Fed President Dennis Lockhart have helped fuel the technical break in bond markets. We've lost enough ground that most any lender is now at risk of repricing. Fannie 3.5s are down 10/32nds on the day, with at least 7/32nds of those since most lenders' rate sheet print times.

Here are the Lockhart comments:

DJ - LOCKHART SAYS 'SIGNIFICANT DETERIORATION' IN DATA WOULD CONVINCE HIM TO PUT OFF RATE INCREASE

DJ - LOCKHART SAYS SEPTEMBER COULD BE 'APPROPRIATE TIME' TO LIFT INTEREST RATE

DJ - ATLANTA FED'S LOCKHART SAYS FED IS 'CLOSE' TO BEING READY TO RAISE SHORT-TERM RATES

MBS / Treasury Market Data

UMBS 5.5

98.35

+0.49

UMBS 6.0

100.12

+0.35

UMBS 6.5

101.61

+0.19

2 YR

4.8087

-0.0650

10 YR

4.5026

-0.0769

Pricing as of: 5/3 3:53PM EST

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	Rate	Change	Points
30 Yr. Fixed	7.28%	-0.09	--
15 Yr. Fixed	6.75%	-0.07	--
30 Yr. FHA	6.70%	-0.12	--
30 Yr. Jumbo	7.48%	-0.07	--
5/1 ARM	7.35%	-0.07	--

Source: Mortgage News Daily

	Rate	Change	Points
30 Yr. Fixed	7.24%	+0.11	0.66
15 Yr. Fixed	6.75%	+0.11	0.64
30 Yr. FHA	7.01%	+0.11	0.94
30 Yr. Jumbo	7.45%	+0.05	0.56
5/1 ARM	6.64%	+0.12	0.87

Source: The Mortgage Bankers Association

	Rate	Change	Points
30 Yr. Fixed	7.22%	-0.22	0.00
15 Yr. Fixed	6.47%	-0.29	0.00

Source: Freddie Mac

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MBS	Price	Change

UMBS 5.5	98.35	+0.49
UMBS 6.0	100.12	+0.35
UMBS 6.5	101.61	+0.19
GNMA 5.5	99.10	+0.48
GNMA 6.0	101.06	+0.32
GNMA 6.5	101.78	+0.16

US Treasuries	Yield	Change

2 YR	4.809	-0.065
5 YR	4.487	-0.085
10 YR	4.503	-0.077
30 YR	4.665	-0.065

Pricing as of: 5/3 3:53PM EST

		Value	Change
Mortgage Apps	Apr 24	196.7	-2.67%
Building Permits	Mar 1	1.46M	-3.95%
Housing Starts	Mar 1	1.32M	-13.15%
New Home Sales	Mar 1	693K	4.68%
Pending Home Sales	Feb 1	75.6	1.75%
Existing Home Sales	Feb 1	3.97M	-0.75%
Builder Confidence	Mar 1	51	6.25%

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