The long-term rate-indicative 10-year Treasury yield has officially dropped to and matched its 52-week low of 1.7%.

The benchmark bond yield hit that low on Thursday afternoon but never dropped below it, and as of late Friday morning it was hovering just a little above it.

Near noon Friday, the 10-year was at 1.71%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/ten-year-yield-1030520-1.html

CS analyst Moshe Orenbuch writes in a new research paper that large cap banks will enjoy an average gain-on-sale margin of 300 basis points in 2Q compared to 350 bps in the first quarter.

Article source: http://www.nationalmortgagenews.com/dailybriefing/gain-on-sale-mortgage-profits-Moshe-Orenbuch-1030492-1.html

A federal official told a group of third-party origination professionals angered by new proposed compensation and pricing restrictions that the Consumer Financial Protection Bureau would listen to their concerns and could still possibly change the proposals in line with them.

Article source: http://www.nationalmortgagenews.com/dailybriefing/third-party-origination-concerns-1030484-1.html