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Negative Reprices Becoming a More Serious Threat

A few of the early/aggressive lenders have already repriced or are in the process.

10yr yields continue trending higher and are nearly up to 2.37 from 2.325 lows.

European markets are closed for the day, and had been a source of support in the morning hours.

Due to the combination of the above factors, it's likely that MBS will lose a bit more ground, and these next few ticks coincide with increased reprice risk for a wider variety of lenders.  We're still not to "full-blown" levels, but reprices will likely affect more than a lender or two at this point.

MBS / Treasury Market Data

UMBS 5.5
97.36
+0.35
UMBS 6.0
99.37
+0.30
UMBS 6.5
101.06
+0.17
2 YR
4.9944
-0.0031
10 YR
4.6645
-0.0394
Pricing as of: 4/26 5:05PM EST
This Mortgage Market Alert is provided in partnership with MBS Live and provided exclusively to MBS Live Subcribers.