Rate Desk April 9, 2020

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April 9 edition
  • Fed: $2.3 trillion loans for midsize businesses, US cities and states
  • UST range bound .72-.74 bp
  • Fed includes CMBS AAA securities in TALF
  • FHA rates
  • 223(f) flat 2.60-2.65
  • 221(d)(4) 3.30-3.60
  • GSE’s narrowing average of 10 bp
  • Fannie 3.32%
  • Freddie 3.40%
  • FHA & GSE bids good for 2 minutes
  • Commercial MBS 48% of all MF debt ($728 billion)
PRO take away
  • Good time to borrow or refinance