MBA Mortgage Applications fell -9.0% last week after rising +1.3% the week prior. Purchases fell -6.5% vs. -2.3% prior (+1.2% YoY), Refinancing declined -10.3% vs. +2.5% prior (+41.8% YoY), and the average interest rate for a conventional conforming loan rose from 3.79% to 3.84%. Treasuries are hovering near flat to yesterday's 2:00 PM close levels and MBS has widened nearly 1 tick in the production coupons. The curve has slightly bull steepened with 2s10s edging up +0.1 bps.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
This information is provided solely for informational use and is not intended as a trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not liscensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, price, guidelines, fees, costs, terms and conditions are subject to change without notice.