MBS RECAP: Bonds Reenter Previous Range Once More, With Feeling

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Posted To: MBS Commentary

Gains were intact from the overnight session massive losses in European bank stocks set the tone Yes, Australia cut rates, but it wasn't much of a consideration Bonds broke back into the previous range, with technicals turning bullish Every moment that 10yr yields operate under 1.84 is like a dream for fans of low rates. That level has historically been the gateway between the lowest rate range and everything else. It's where we start to see more instances of 3.5% 30yr fixed conventional quotes. Not to say that 3.625 to 3.75 is a bad rate, but it's always a bummer when it looks like we're heading somewhere fun on the mortgage rate spectrum only to see things quickly change for the worse. Yesterday was one of those "change for the worse" days, but not so much as to…(read more)

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