Mortgage Spread Update

I will agree that following the Fannie Mae/10 Yr Treasury is a bit like watching paint dry...But we are seeing a bit of an uptick in the spread at the end of this past week.

Key Metrics as of April 16, 2010:

30 Day FNMA Mandatory Commitment: 4.80205%

10 Yr Treasury Yield: 3.77%

Current Spread: 1.03205%

Mortgage Spread Update

Mortgage rates are moving higher, but that's because of the underlying move higher in 10 Yr Treasury rates at this point. The spread between the Mortgage Backed Securities and the 10 Yr has remained relatively constant in the last few weeks.

Treasury Issuances January 5 2009 thru April 1 2010

You can find the Treasury Auction Announcements here.

I've been accumulating the results of the 2 Yr, 3 Yr, 5 Yr, 7 Yr, 10 Yr, and 30 Yr US Treasury Auction Results since the January 5 2009 auction announcement. For the period of January 5, 2009 through the most recent announcement on April 1, 2010, the Treasury has issued $2.714 Trillion in new debt.

Total Treasury Issuance Jan 2010 Through April 1, 2010 Announcement: $657 Billion.
Total Treasury Issuance for 2009: $2.057 Trillion
Total 2009 Issuance Thru 1st Auction in April: $491 Billion

The Treasury has issued 33.8% more debt (counting only the 2 Yr, 3 Yr, 5 Yr, 7 Yr, 10 Yr, and 30 Yr issuances) in 2010 verus 2009.