MBS and Swaps

October 23rd, 2008 10:09 am | by John Jansen |

Mortgages are about 8 ticks wider to swaps this morning. There has been real money selling and originator selling.

Swaps are unchanged from 2 year through 10 years.  The 30 year swap spread has tightened a basis point and that puts it in Rod Serling Twighlight Zone territory at minus one.

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  1. 3 Responses to “MBS and Swaps”

  2. By Alex on Oct 23, 2008 | Reply

    NEW YORK (MarketWatch) — U.S. fixed-rate mortgages declined in the latest week, according to Freddie Mac’s survey released Thursday. The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 6.04% in the week ending Thursday, down from last week’s 6.46% and the year-ago 6.33%. The 15-year fixed-rate loan averaged 5.72%, down from the week-ago 6.14% and the year-ago 5.99%. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 6.06%, compared with 6.14% a week ago and 6.03% a year ago. One-year Treasury-indexed ARMs averaged 5.23% this week, up from last week’s 5.16% and down from the year-ago 5.66%. “Long-term mortgage rates fell this week amid news of tame inflation and a weaker housing market,” said Frank Nothaft, Freddie Mac vice president and chief economist.

  3. By Ed on Oct 23, 2008 | Reply

    WaMu auction: initial result of 63 5/8, with nearly a billion of open interest.

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