| May 2, 2012 2:12PM At current near-record levels of consumer mortgage rates, and with MBS prices grinding higher, a natural question is whether rates are poised to push downward to new lows. In turn, a critical issue is whether the market for 30-year conventional 3.0s has become liquid enough to absorb a substantial increase in issuance of loans with rates of 3.75% and lower. I'm dubious; as I'll show, the lack of issuance and thin float in 30-year Fannie and Gold 3s suggests to me that a sustained burst... May 2, 2012 3:13PM Mortgages rates are unchanged to slightly lower today, after shying away from multi-month lows yesterday. A weaker than expected employment report helped underlying rates markets start the day off in good territory, but further progress was elusive. The net effect was insufficient to cause any mid-day reprices and left lenders' offerings in only marginally better territory on average, with no change to the prevailing 3.875% Best-Execution rate for Conventional 30yr Fixed loans. ( read more about...
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