Flat to Upward Pressure
After opening to the upside, mortgages are now trading flat thanks to inflationary concerns in PPI data (if you need an explanation). The FN 4.0 is +0-01 at 97-21 yielding 4.224% and the FN 4.5 is +0-00 at 100-21 yielding 4.43%. The secondary market current coupon is 4.41%.
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