Mortgage rates remain stubbornly high by modern standards with the spread between the 10-year Treasury and MBS showing no mercy. Is there any hope on the horizon for a reprieve? Probably not.
Ever since the Fed started its rate-hiking cycle, the spread between interest rates on loans in agency MBS and the 10-year Treasury rate has been elevated. Prepayment risk is to blame and there’s no easy fix.
Mortgage securitization rates remained at previous levels as new primary market production and MBS issuance grew at similar rates in the second quarter. (Includes data chart.)
Moody’s warned that a government shutdown could lead to a downgrade of its AAA rating for the U.S., Fannie and Freddie plan new social disclosures; DBRS proposes revisions to CLO rating criteria.
An unsecured debt offering by a mortgage REIT? That’s correct. PennyMac is on the board with a small note deal. Might this be a sign of things to come?
FINRA plans to implement margin requirements for agency MBS transactions in May. The requirements, which have been delayed for years, will apply to broker-dealers.
Ginnie Mae eligibility requirements issued a year ago are largely set to take effect at the end of the month. Most issuers are in compliance with the standards, according to the agency.
MBS holdings at Fannie and Freddie are a shadow of what they used to be. Then again, being in a conservatorship that just celebrated its quinceanera will do that to you.
RSS