Agency spreads increase

[Spencer Gray]

Has anyone gotten a rate quote from Fannie or Freddie this week since the 10 year took a nose dive? 

I have heard that both have increased their spreads substantially and may not even be taking applications. 

CMBS and Life Insurance debt may now be more attractive than Agency which is hard to believe.

Seeing that the vast majority of apartment deals are financed via the two GSEs this will have downstream effects on the market, especially deals that are pending but haven't rate locked and for near future transactions.

What are you seeing? What are your thoughts? What actions are you taking?