Commonwealth Bank and Liberty Financial have priced their latest issues of residential mortgage-backed securities at much lower premiums than the pricing on their issues earlier this year.After a slow start to the year, with premiums significantly higher than in 2015, the RMBS market has finished the year in much better shape.Commonwealth Bank has issued A$2 billion of securities, paying 110 basis points over the one-month bank bill swap rate on the A1a notes, which are worth $1.84 billion and have a weighted average life of 3.5 years.Pricing on the B and C notes was not disclosed.In March CBA issued $1.57 billion of RMBS, paying a premium of 140 bps on the senior notes.While the premium on the senior notes has improved by 30 bps over the course of the year, the pricing of RMBS is still relatively high. CBA issued at a premium of 90 bps in September last year and 80 bps in February.Liberty Finance has raised $500 million of funding through its latest issue, Liberty Series 2016-3.  Pricing on the $100 million of A1a notes, which have a WAL of 0.4 years, was 75 bps over one-month BBSW.Pricing on the $225 million of A1b notes, which have a WAL of 2.5 years, was 150 bps over swap.And pricing of the $105 million of A2 notes, which have a WAL of 3.6 years, was 240 bps over swap. Pricing on the B, C, D, E, and F notes was not disclosed.When Liberty last issued, in October, it paid 145 bps on the A1a notes, 165 bps on the A1b notes and 230 bps on the A2 notes.While the pricing on the latest deal looks a lot lower, the two deals are not directly comparable. The WALs of the A1a and A1b notes in the latest deal are shorter than in the October deal.