Correspondent par mortgage rates changed little over the last week ending at 4.76%; representing a 100bp spread over the 10yr treasury. This is approximately 30 basis points under the Freddie Mac primary market survey rate of 5.06%.
Of more interest is in the jumbo market. 5.0% 30 year jumbos had been trading 248bps under comparable conforming loans as of 4/23. That spread has come down to 174bps. It will be interesting to see where this goes next week.
NB. For daily pricing on a more diverse set of loan programs please visit Level 1 Loans Index.