Freddie Mac reported 30-year fixed rate mortgage rates dropped eight basis points to a new year-to-date low in the week ending May 12 to 4.63% with an average 0.7 point.

This places the no-point rate at 4.81%, which brings most of the 5% coupon back into the refinancing window. This group of borrowers, more so than 5.5s and especially higher coupons, are considered to be fairly clean in terms of FICO, LTVs, etc. and should be able to take advantage of this latest opportunity.

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.