Correspondent par mortgage rates dropped 9 basis points over the last week ending at 4.67%; the spread over the 10 yr treasury increased from 100bp to 126bps. The spread to the Freddie Mac primary market survey rate of 5.00% increased from 30 to 33 basis points.
The jumbo market seemed to have lost some of the euphoria from Redwood Trust’s successful private-label jumbo securitization. Spreads to comparable conforming product increased from 174 to 207 basis points; a still relatively attractive spread.
NB. For daily pricing on a more diverse set of loan programs please visit Level 1 Loans Index or visit us at Booth 109 during the New York Secondary conference.