Government-backed U.S. mortgage bonds are off to their worst start relative to Treasuries since at least 1997 as investors in the $5.5 trillion market brace for a surge in homeowner refinancing.
Ellie Mae® , a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, announced that First Federal Lakewood, the
Yields (USGG10YR) on government-backed mortgage securities narrowed to the least relative to benchmark debt in more than two years, cushioning the blow of a slump in Treasuries for home buyers.
Mortgage rates in the U.S. declined, keeping borrowing costs at the lowest levels since May 2013.