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MBS Down More Than a Quarter of a Point; Negative Reprices Coming

While we haven't seen many reprices yet, expect to see a few more.  Fannie 3.5 MBS are now down more than a quarter of a point as markets are reading Powell's responses as more hawkish than his prepared remarks.  10yr yields are up to 2.908% and Fannie 3.5 MBS are down to 99-16 (99.5).  

Most any lender is at risk of repricing.

MBS / Treasury Market Data

UMBS 5.5
97.24
+0.23
UMBS 6.0
99.26
+0.20
UMBS 6.5
100.97
+0.08
2 YR
4.9809
-0.0166
10 YR
4.6661
-0.0378
Pricing as of: 4/26 9:26AM EST
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