Let's start today's rate coverage with a public service announcement on the best way to be a consumer of mortgage rate data online. It can be quite a chore to make sense of day-to-day mortgage rate movement recently. Even after doing as much as can possibly be done to ensure apples-to-apples comparisons, there can still be significant changes and discrepancies for one of any number of the following reasons: You're looking at rate info that is more than a few hours old (even worse if you replace "hours" with "days"). You're looking at rate info from one specific lender and comparing it to a broad average or a different lender You're looking at a rate quote that relies on upfront points in order to secure a lower rate You're looking at a rate quote for a scenario that involves LLPAs (loan-level price adjustments) imposed by regulators based on certain loan characteristics By the time we combine several of the bullet points above, it's not uncommon to hear that rates are 1.5% higher or lower for what may seem to be the exact same scenario. In general, but especially at times like this, it makes sense to account for as many of those variables as possible. And although our rate index does a great job of that, you can take it to the next level with one simple strategy: Forget the rate itself and focus on the day to day movement. In other words, our top tier 30yr fixed index suggests that lenders are quoting 6.625% today on perfect loans with no price adjustments. Someone with a more average scenario could easily be seeing 7%+. Lenders who compete for web leads with "fine print" conditions could be more than a percent lower. But any scenario at any lender is infinitely more likely to MOVE like another scenario at another lender.
| Mortgage Rate Watch | | How to Make Sense of Mortgage Rate Info These Days | | Let's start today's rate coverage with a public service announcement on the best way to be a consumer of mortgage rate data online. It can be quite a chore to make sense of day-to-day mortgage rate movement recently. Even after doing as ... (read more) |
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| MBS Commentary | | Simple, Boring, Half Point Sell-Off in MBS | | Absence of Data Leaves Even More Focus on The Fed If there happened to be some significant economic data today, or on the next two mornings, financial markets might wait to see what it implied before diving h... (read more) |
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| 30 Yr. Fixed Rate | | 6.67% +0.12% |
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| Rate | Change | Points |
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| Mortgage News Daily | | 30 Yr. Fixed | 6.67% | +0.12 | 0.00 | | 15 Yr. Fixed | 6.08% | +0.10 | 0.00 | | 30 Yr. FHA | 6.15% | +0.10 | 0.00 | | 30 Yr. Jumbo | 6.16% | +0.04 | 0.00 | | 5/1 ARM | 6.14% | -0.21 | 0.00 | | 30 Yr. VA | 6.17% | +0.08 | 0.00 | | Updates Daily - Last Update: 3/20 |
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| 15 Yr. Fixed Rate | | 6.08% +0.10% |
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| Rate | Change | Points |
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| Freddie Mac | | 30 Yr. Fixed | 6.60% | -0.13 | 0.00 | | 15 Yr. Fixed | 5.90% | -0.05 | 0.00 | | Updates Weekly - Last Update: 3/16 |
| Rate | Change | Points |
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| Mortgage Bankers Assoc. | | 30 Yr. Fixed | 6.71% | -0.08 | 0.79 | | 15 Yr. Fixed | 6.14% | -0.11 | 0.77 | | 30 Yr. Jumbo | 6.39% | -0.10 | 0.61 | | Updates Weekly - Last Update: 3/15 |
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| Price / Yield | Change |
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| MBS | | UMBS 5.0 | 99.28 | -0.55 | | UMBS 5.5 | 100.56 | -0.33 | | GNMA 5.0 | 99.73 | -0.55 | | GNMA 5.5 | 100.81 | -0.34 | | Pricing as of: 3/20 5:31PM EST |
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| 10 Year US Treasury | | 3.4884 +0.0504 |
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| Price / Yield | Change |
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| US Treasury | | 2 YR Treasury | 3.983 | +0.137 | | 5 YR Treasury | 3.591 | +0.084 | | 7 YR Treasury | 3.568 | +0.064 | | 10 YR Treasury | 3.488 | +0.050 | | 30 YR Treasury | 3.672 | +0.045 | | Pricing as of: 3/20 5:31PM EST |
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