Market Update, Wednesday, June 24, 2020
Stocks opened lower after confirmed cases of the Coronavirus jumped in several states including: Arizona, Texas, and California, each experiencing new single day records on Tuesday.
Lenders Broaden Non-QM offerings, Loosen Credit as market stabilizes, article by Debtwire
The revival of non-QM securitizations is helping to start a chain reaction of whole loan sales and the return of more originators.Recent deals from Angel Oak, Invictus Capital Partners, and Starwood Property Trust showed that investors are backing off the worst-case scenarios for the non-agency loans as the nation struggles with the COVID-19 pandemic, said two investors.
Market Update, Thursday, June 18, 2020
Mortgage supply picked up to $7B on the day while demand was tepid. The NY Fed will conduct two purchase operations totaling up to $4.349B starting with $1.372B UMBS15 2% and 2.5% at a 11:50am ET followed by $2.977B UMBS30 2% through 3% at 1:20pm ET.
Market Update, Wednesday, June 17, 2020
This morning the MBA mortgage applications index rose 8.0% in the week ending June 12th after rising 9.3% in the prior week. Purchases were up 3.5% after rising 5.3% in prior week, and refis increased 10.3% after rising 11.4% in prior week.
Market Update, Tuesday, June 16, 2020
The 10-year note settled a tick lower at 0.702% yield. Mortgage trading volumes were light vs. recent averaged. The central bank’s aggregate mortgage buying was $4.7B, mostly unchanged from the previous session’s $4.5B. The most heavily purchased was the UMBS 30-year 2.5% at $1.8B.
Market Update, Friday, June 12, 2020
Mortgage origination volume came in at $8.77B, higher than the five-day average of $8.19B.
In yesterday’s Federal Reserve MBS Purchase Operations, the Fed purchased, $720M FNCL 2.0%, $1.756B FNCL 2.5%, and $474M FNCL 3.0%. In Agency 15-year, the Fed purchased $1.122B FNCI 2.0%, and $453M FNCI 2.5%. Federal Reserve MBS purchase operations scheduled for today include 30-year Ginnie Mae MBS 2.5% and 3.0%, totaling $1.5744B, and 30-year Uniform MBS 2.0-3.0%, totaling $2.977B.
Market Update, Thursday, June 11, 2020
Mortgage origination volume came in at $8.14B, slightly higher than the five-day average of $8.05B.
In yesterday’s Federal Reserve MBS Purchase Operations, the Fed purchased, $1.1B G2SF 2.5%, and $400M G2SF 3.0%. In Agency 30-year, the Fed purchased $766M FNCL 2.0%, $1.73B FNCL 2.5% and $474M FNCL 3.0%. Federal Reserve MBS purchase operations scheduled for today include 15-year Uniform MBS 2.0% and 2.5%, totaling $1.575B, and 30-year Uniform MBS 2.0-3.0%, totaling $2.97B.
Market Update, Wednesday, June 10, 2020
Mortgage origination volume came in at $8.54B, higher than the five-day average of $8.11B. In yesterday’s Federal Reserve MBS Purchase Operations, the Fed purchased, $275M FNCL 2.0%, $2.295B FNCL 2.5% and $400M FNCL 3.0%. In Agency 15-year, the Fed purchased $1.255B 2.0% and $320M 2.5%. Federal Reserve MBS purchase operations scheduled for today include 30-year Ginnie Mae MBS 2.5% and 3.0%, totaling $1.5B, and 30-year Uniform MBS 2.0-3.0%, totaling $2.97B.
Market Update, Tuesday, June 9, 2020
Mortgage origination volume came in at $7.77B to start the week, slightly below the five-day average of $8.17B.
In yesterday’s Federal Reserve MBS Purchase Operations, the Fed purchased, $780M FNCL 2.0%, $1.716B FNCL 2.5% and $474M FNCL 3.0%. In Ginnie Maes, the Fed purchased $1.17B 2.5% and $330M 3.0%. Federal Reserve MBS purchase operations scheduled for today include 15-year Uniform MBS 2.0% and 2.5%, totaling $1.575B, and 30-year Uniform MBS 2.0-3.0%, totaling $2.97B.
Market Update, Monday, June 8, 2020
US treasuries were lower in price and higher in yield on Friday, with the 10-year benchmark closing at the highest yield since the March 19th level of 1.144% yield, at 0.896%. The upcoming announced record issuance of the 10-year and 30-year treasuries have weighed on treasury yields. Mortgage origination volume came in at a robust $7.72B to close out the week, close to the five-day average of $7.75B.
