Date:
May 25, 2010 at 8:45 Eastern
| Benchmark | JUN FN30 4.5 | FN30 CC | FN30 NR | JUN EDF 2.0 BUNDLE | JUN GN30 4.5 |
| Last Close | 102:02 | 4.12% | 4.93% | 98.715 | 102:21 |
| Current Level | 102:10 +8 | 4.07% -5 bps | 4.88% -5 bps | 98.698 -1.7 bps | 102:29 +8 |
Latest Spreads:
| Product | Last | Change |
| FN30 CC Spread | 106 bps | +4 bps |
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| MTD +8 |
| FN30 4.5 TOAS | 18 bps | +12 bps |
| C30 Avg GPM | 66 bps | +1 bp |
| Production Index | Day over day | 65.3% |
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| % of 10 day avg | 94.6% |
| Mand-BE Spread | 41 bps | -11 bps |
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| MSR Retain IRR | 10.5% | +1.0% |
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| MSR Index | 89.0% | MTD -11.0% |
House Price Data provided by Radar Logic, Inc.
| RPX MSA | Price per Square Foot | M-T-M* | Q-T-Q* | RPX Implied HPA through 12/31/2010 |
| 25-MSA Composite | $190.63/sqft | +$3.65/sqft | -$3.29/sqft | +3.9% |
Economic News/Activity Today
| Time | Release | Period | B'Berg Survey | Actual | Prior | Revised |
| 9:00 | S&P/CS Composite-20 YoY | MAR | 2.5% | -- | 0.6% | -- |
| 9:00 | S&P/CaseShiller Home Price Ind | MAR | -- | -- | 144.0 | -- |
| 9:00 | S&P/CS 20 City MoM% SA | MAR | -0.30% | -- | -0.10% | -- |
| 9:00 | S&P/Case-Shiller US HPI | 1Q | -- | -- | 136.1 | -- |
| 9:00 | S&P/Case-Shiller US HPI YOY% | 1Q | -- | -- | -2.5% | -- |
| 10:00 | Richmond Fed Manufact. Index | MAY | 25 | -- | 30 | -- |
| 10:00 | Consumer Confidence | MAY | 58.9 | -- | 57.9 | -- |
| 10:00 | House Price Index MoM | MAR | 0.0% | -- | -0.2% | -- |
| 10:00 | House Price Purchase Index QoQ | 1Q | -- | -- | -0.1% | -- |
| 5:00 | ABC Consumer Confidence | May 23 | -- | -- | -44 | -- |
Market Color
Stocks and commodities are down after the IMF urged Spain to do more to overhaul its struggling banks; the euro is at a 9-year low against the yen and is down about 1.4% against the dollar; bonds are up. 3-month LIBOR is higher for the 11th day in a row. Right now, the futures market is pricing in a 72% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.12% (3.18% yesterday) and the 2-10 yield spread is at 242bps, flattening 2bps since yesterday morning.
Disclaimer: C30 Avg GPM (Conventional 30-year Average Gross Profit Margin), MSR Index, FN30-NR, BE-MAND Spread and MSR Rich/Cheap represent generic industry measures. Actual results and measures will likely vary by individual originator or servicer.
* Radar Logic Daily™ Price Data represents the previous day's 28-day average price per square foot compared to previous month's (M-T-M) or quarter's (Q-T-Q) 28-day average price. For more information on RPX™ Forward Contracts, Radar Logic Daily™ Price Data on an MSA or ZIP level contact or valuation and/or hedging application of either, please contact Compass at 415 462 7500.
**If you would like to be added to this distribution list or would like an explanation of any of these numbers, please send an email to dbennett@compass-analytics.com**
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