With the summer doldrums in full swing and very limited economic news or other key events, this week's trading influences in the mortgage sector were left primarily to July prepayments and Class A – 30-year FNMAs and FHLMC Golds – pool allocations.   

Speeds on moderately seasoned conventional 3.5s through 4.5s were faster than expected as borrowers responded to record low mortgage rate levels in June, while the higher coupons eligible for the Home Affordable Refinance Program (HARP) rose just 2%-3%, which was in line with expectations.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.