Market Update 6/10/2016
MBS are up +4/32 (FNMA 30-yr 3.0 at 102.26), around 2/32 higher than yesterday at this time.
A decline in stocks has helped MBS this morning. The Dow is down 100 points.
The monthly rollover took place overnight for FNMA and FHLMC 30-yr securities. The current coupon switched from the June to the July contract. If you are tracking daily MBS price movements, July MBS prices reflected a drop of about -8/32 from June. This change is priced in over the course of the month, so the impact on mortgage rates on the day of the rollover is generally no greater than on any other day of the month.