Friday, September 30, 2022
The downward trajectory of speeds continues. The governments are finally approaching 10% CPR, while the conventionals are now around 6.0%. Conventionals are now starting to approach their "demographic" level (i.e. deaths, marriages, transfers, etc). Mortgage rates increased almost 100 basis points between August and September. While nowhere near the Jimmy Carter rate levels (yet), The 30-year fixed rate mortgage is now hovering around 6.50%, up 94bps from last month and up 341bps from year-end. Jumbos have fallen back into their historical relationship with Conventionals.
Our team is hands-on and knowledgeable, reach out to us for any consultation needs or questions.