FRM Update

May 14, 2018



MBS yield spreads versus Treasuries were unchanged to slightly tighter, as Treasury yields rose across the curve from 3-month to 20-year maturities.  On a relative basis, activity in mortgage related securities fared very well compared to other sectors last week as mid-week activity was elevated compared to levels experienced this year.  Mortgage rates rose last week, continuing the trend higher.  Mortgage applications fell for the third consecutive week, as both purchase and refinance applications declined.  Refinance activity continues to be historically low and range-bound, driven lower by increasing mortgage rates in 2018.

 

MBS

 




 

CMOs

 

Mortgage Rates and Refinance Activity

 


Dan Stimpson, CPA

Senior Vice President

Vining Sparks

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