TBA Trading Volume Trading volume was relatively flat week over week. The only real gain was in GNMA trades which were up 7.3% week over week. Conv 30yr trades were 5 times the amount of GNMA 30yr so the small increase in activity on the GNMA product wasn’t enough to make a significant impact overall…. Read more »
Month-over-Month From end-of-month February to end-of-month March, the MIAC Generic Servicing Assets, (GSAs™) Conv_30 Index decreased by 7.26% and the GNII_FHA_30 index decreased by 7.53%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 decreased by 8.20% and the GNII_FHA30_3.5_2016 cohort decreased by 4.60%. Option-adjusted spread (OAS) measures the spread… Read more »
TBA Trading Volume Trading volume was up quite a bit this week. At the same time, borrowers took advantage of the lowest rates since late 2017. Conv 30yr trades led the way with a 37% increase week over week. With the move down in rates, we saw trade volume shift down in coupon. 83% of… Read more »
Curve flattening was in full effect last week as the 2-10 spread tightened to 12. The 10-Yr rallied 10 bps on Friday on the back poor European economic data finishing the week at 2.437. The 3-month/10-Yr inverted for the first time since 2007 as Existing Home Sales came in well above expectations at 11.8% MoM… Read more »
Month-over-Month From end-of-month January to end-of-month February, the MIAC Generic Servicing Assets, (GSAs™) Conv_30 Index increased by 0.60% and the GNII_FHA_30 index increased by 0.35%. In larger GSA cohorts, which are actively traded in the MSR market, the Conv30_3.5_2016 and increased by 0.72% and the GNII_FHA30_3.5_2016 cohort decreased by 0.07%. During the month of February,… Read more »
Bid Date: 03/28/2019 5:00 PM EST Mortgage Industry Advisory Corporation (MIAC), as exclusive representative for the Seller, is pleased to offer for your review and consideration a $341.58 million Ginnie Mae mortgage servicing portfolio. The portfolio is being offered by a mortgage company that originates loans with a Midwest concentration. The Seller will be providing… Read more »
TBA Market Color Mixed data releases including weak construction, weak payroll growth, strong wage growth, a declining unemployment rate, and strong ISM Non-Manufacturing all had a part in last week’s market movement. 10-Yr Treasury yields rallied 12 bps finishing the week lower at 2.63 and the 2-10 spread finished flatter at 16. We are watching… Read more »
Bid Date: 3/19/2019 5:00 PM EST Mortgage Industry Advisory Corporation (MIAC), as the exclusive representative for the Seller, is pleased to offer for your review and consideration a $761.48 million agency mortgage servicing portfolio. The portfolio is being offered by a mortgage company that originates loans with an Ohio concentration. The Seller will be providing… Read more »
Bid Date: 3/14/2019 5:00 PM EST Mortgage Industry Advisory Corporation (MIAC), as the exclusive representative for the Seller, is pleased to offer for your review and consideration a $315.25 million Ginnie Mae, Fannie Mae, and Freddie Mac mortgage servicing portfolio. The portfolio is being offered by a mortgage company that originates loans with a California concentration…. Read more »
This past week was full of inconsistent data releases as 10-Yr yields bounced around before finishing better at 2.654. The Fed minutes showed that they are still committed to staying “patient” and conversations are starting to swirl around the 2% inflationary target set in 2012. Existing Home Sales fell for the third straight month in… Read more »