Mortgage Rates Almost Perfectly Unchanged Near 7 Month Lows

As of last Thursday, the average top tier 30yr fixed mortgage rate was a few days away from being able to claim an official "7 month low," and that's REALLY splitting hairs. Today's rates are only microscopically higher. In fact, it would be more accurate to think of Friday and today as being a sideways extension of the long-term lows achieved last Thursday. For the average lender, that results in a 30yr fixed rate just under 6.7%. With the exception of the past 2 days, that would officially be a 7 month low. [thirtyyearmortgagerates] Little--if anything--happened to create any meaningful movement in the underlying bond market. Treasury yields have also flat-lined since last Thursday afternoon. Financial markets will now be waiting until the first week of January for the next piece of economic data that could truly be considered "top tier" (a description that arguably only applies to the jobs report and the Consumer Price Index these days). This isn't to say that rates can't experience volatility between now and then, but surprises in the data would likely be required in order for rates to move more than .15-.20% over the next 2 weeks.

December 18, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Almost Perfectly Unchanged Near 7 Month Lows As of last Thursday, the average top tier 30yr fixed mortgage rate was a few days away from being able to claim an official "7 month low," and that's REALLY splitting hairs. Today's rates are only microscopically higher. In fact, it would... (read more) MBS Commentary Uneventful! Uneventful! Through the 3pm CME close, today's trading volume in longer term Treasuries was the lowest in months and one of the lowest non-holidays of the year. There were several Fed speakers making th... (read more) Rob Chrisman U.S. Government Vs. Robocalls; Study on Debt and Generations; FHA is Alive and Well; Comprehensive Vendor News Yesterday the U.S. Government took a step addressing robocalls! But in that vein, sorry for the delay in sending out today’s Commentary. I received an email earlier this morning saying that my Mont Blanc quill pen set had shipped, and for me to click... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.65% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.65% +0.01 0.00 15 Yr. Fixed 6.15% 0.00 0.00 30 Yr. FHA 6.12% -0.02 0.00 30 Yr. Jumbo 7.04% -0.01 0.00 5/1 ARM 6.25% -0.05 0.00 30 Yr. VA 6.13% -0.02 0.00 Updates Daily - Last Update: 12/18 15 Yr. Fixed Rate 6.15% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.95% -0.08 0.00 15 Yr. Fixed 6.38% +0.09 0.00 Updates Weekly - Last Update: 12/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.07% -0.10 0.59 15 Yr. Fixed 6.67% -0.13 0.58 30 Yr. Jumbo 7.22% -0.13 0.37 Updates Weekly - Last Update: 12/13 MBS / Treasuries UMBS 30YR 5.5 100.19 -0.05 Price / Yield Change MBS UMBS 5.5 100.19 -0.05 UMBS 6.0 101.41 +0.02 GNMA 5.5 100.33 -0.16 GNMA 6.0 101.48 -0.02 Pricing as of: 12/18 5:31PM EST 10 Year US Treasury 3.9410 +0.0260 Price / Yield Change US Treasury 2 YR Treasury 4.457 +0.008 5 YR Treasury 3.943 +0.029 7 YR Treasury 3.969 +0.026 10 YR Treasury 3.941 +0.026 30 YR Treasury 4.050 +0.038 Pricing as of: 12/18 5:31PM EST Latest Video Chicago Fed President Austan Goolsbee: We've seen significant improvement o... Fed Chair Powell needs to be careful about rapid rate cuts: Jefferies’ Davi... Chicago Fed President Austan Goolsbee: We've seen significant improvement o... Homebuilders still have room to run, says BofA Securities' Rafe Jadrosich Around the Web Marketwatch Fed's dovish pivot is big gamble that's likely fail, says former top New York Fed official CNBC Only 60% of student loan borrowers made payments when bills restarted CNBC Fed's Goolsbee says he was 'confused' by last week's market reaction Eye on Housing Builder Sentiment Rises on Falling Interest Rates CNBC Mortgage rates are dropping. Here's what to expect in 2024 if you want to buy a home, experts say Calculated Risk Blog Housing December 18th Weekly Update: Inventory Down 1.4% Week-over-week, Up 3.0% Year-over-year Reuters Fed's Bostic Sees Two Rate Cuts in 2024, Likely Starting in Third Quarter Calculated Risk Blog 3rd Look at Local Housing Markets in November with Comparison to 2019 Calculated Risk Blog Early Read on Existing Home Sales in November; Treasury and MBS Yields: There and Back Again Eye on Housing Immigrant Share in Construction Highest on Record Eye on Housing Single-Family Permits Down in October 2023 Calculated Risk Blog NAHB: Builder Confidence Increased in December CNBC 10-year Treasury yield slip further after Fed's 'big shift'

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