FRM Update

April 30, 2018

MBS and CMO yield spreads versus Treasuries were stable last week. On a relative basis activity in mortgage related securities, including CMOs, probably fared best compared to other sectors versus recent weeks, although activity would be better described as improved than impressive. Mortgage rates rose again last week, rising each week during the month of April to the highest levels in over four years. Mortgage applications fell 0.2% as refinance activity slowed 0.3% and purchase applications were flat after a healthy bounce the week before. Sales of new and existing home sales topped expectations in March, as inventory remains tight and prices continue rising, despite higher mortgage rates.








Mortgage Rates and Refinance Activity








Dan Stimpson, CPA

Senior Vice President

Vining Sparks

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