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U.S.-Iran mediation hopes lift mortgage markets and ease Treasury yields

Mortgage-backed securities rose about 5 ticks, while the 10-year Treasury yield fell roughly 4.1 basis points to 4.613 after the reports.

Reported · Written up by our desk · Mortgages

Mortgage News Daily said expectations that U.S.-Iran mediators may move closer to re-implementing a prior memorandum of understanding helped shift risk sentiment on Tuesday, with markets taking the news cautiously.

The outlet reported the move corresponded with a rise in stocks, a quick decline in oil prices, and lower bond yields, with no other major market movers cited as driving the session.

In mortgage-specific trading, Mortgage News Daily noted MBS were up about 5 ticks, and the 10-year Treasury yield declined about 4.1 basis points to 4.613. Off best levels, it said MBS later were up about 9 ticks, and the 10-year yield was down about 5.5 basis points to 4.599.

After hours, the outlet reported MBS remained higher, up about a quarter point, with the 10-year yield down about 5.2 basis points to 4.603.

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