Weekly rates

Recent Updates:

Double Bonus! Both Freddie Mac and FNMA cut rates last week. FNMA began the action with a surprise 10bp cut across virtually all fixed rate loan types. Not to be outdone, Freddie Mac cut Small Balance rates across all markets by 15bp on Friday. Both of these cuts should directly benefit borrowers via more affordable financing and potentially better coverage metrics. Both Agencies seem to be responding to the general market sentiment of a slower (but not cratering) economy, inflation readings at lowest levels last seen in 2021, and short term rate cuts clearly in the cards. Freddie Mac Small Balance rates are down 85bps since July 9th. With UST10 rates falling only 52bps in the comparable period, credit spreads on this product also appear to be tightening. FNMA DUS spreads a few bps tighter this week as traders continue to back off the knee-jerk reaction to the July jobs report and look for that smooth landing. We see benchmark 5/4.5s at +61, 7/6.5s at +60, and 10/9.5s at +59/60.
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Rates are provided by Freddie Mac and Fannie Mae