10-Year Treasury Yield Up 100 Basis Points Since May; What’s That Mean for Mortgage Rates and Housing Affordability? – Mike Shedlock – … The FNMA 3.5 coupon was trading at 106 22/32 on , and this morning it was trading at 99 9/32.Ginnie Mae is worse. The GNMA 3.5 coupon was trading at 109 1/32 on , and this morning it was trading at 99 24/32. … In terms of interest rates, I locked an FHA purchase on and the rate was 3.25%, and that rate carried a 2 point lender credit to help pay for closing costs. In order to get the same deal today, (a 2 point lender credit) the rate would have to be 5% today. This as an apples to apples comparison illustrates that FHA rates have increased 1.75% in 7 weeks.
View original post 134 more words