Mortgage rates moved modestly higher to start the new week. With the average top tier 30yr fixed rate just under 7% on Friday, this meant a move to just over 7% today. As always, keep in mind that a mortgage rate index is best used to capture the day to day movement in rates as opposed to outright levels. The latter can vary significantly depending on credit score, equity, occupancy, discount points, and lender margins. There weren't any interesting or compelling developments driving today's bond market movement (bonds dictate mortgage rate momentum). It was an uninspired, uninteresting Monday without any significant economic data or bond market volume. Things should be more interesting tomorrow, for better or worse, due to the release of the Retail Sales data at 8:30am ET. While this isn't in the same league as the jobs report or the Consumer Price Index, when Retail Sales come in much higher or lower than forecast, there's often a noticeable reaction in rates.
| Mortgage Rate Watch | | Mortgage Rates Back Above 7% to Start New Week | | Mortgage rates moved modestly higher to start the new week. With the average top tier 30yr fixed rate just under 7% on Friday, this meant a move to just over 7% today. As always, keep in mind that a mortgage rate index is best used... (read more) |
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| MBS Commentary | | Low Volume Monday Greasing Skids For Volatility | | Last week, MBS underperformance was front and center. One of the justifications was the fact that MBS almost always underperform when Treasuries go on a nice bull run and las week certainly qualified. The next step in that line of thinkin... (read more) |
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| Rob Chrisman | | AI, Verification, LOS, Renovation, Valuation, HELOC Products; VA, HUD, Ginnie Changes and Modernization Efforts | | This week includes Juneteenth, a reminder of how slow news traveled in the past, as well as the Summer Solstice. Here in Hawai’i, in terms of daylight, the difference between summer and winter solstices is only about 2 ½ hours. (Compare that to 7 ½ h... (read more) |
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| 30 Yr. Fixed Rate | | 7.04% +0.05% |
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| Rate | Change | Points |
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| Mortgage News Daily | | 30 Yr. Fixed | 7.04% | +0.05 | 0.00 | | 15 Yr. Fixed | 6.43% | +0.03 | 0.00 | | 30 Yr. FHA | 6.50% | +0.06 | 0.00 | | 30 Yr. Jumbo | 7.25% | +0.02 | 0.00 | | 7/6 SOFR ARM | 7.04% | +0.03 | 0.00 | | 30 Yr. VA | 6.52% | +0.07 | 0.00 | | Updates Daily - Last Update: 6/17 |
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| 15 Yr. Fixed Rate | | 6.43% +0.03% |
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| Rate | Change | Points |
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| Freddie Mac | | 30 Yr. Fixed | 6.95% | -0.04 | 0.00 | | 15 Yr. Fixed | 6.17% | -0.12 | 0.00 | | Updates Weekly - Last Update: 6/13 |
| Rate | Change | Points |
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| Mortgage Bankers Assoc. | | 30 Yr. Fixed | 7.02% | -0.05 | 0.65 | | 15 Yr. Fixed | 6.60% | -0.15 | 0.55 | | 30 Yr. Jumbo | 7.18% | -0.03 | 0.54 | | Updates Weekly - Last Update: 6/12 |
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| Price / Yield | Change |
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| MBS | | UMBS 5.5 | 99.06 | -0.23 | | UMBS 6.0 | 100.60 | -0.12 | | GNMA 5.5 | 99.52 | -0.22 | | GNMA 6.0 | 100.64 | -0.17 | | Pricing as of: 6/17 5:31PM EST |
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| 10 Year US Treasury | | 4.2819 +0.0581 |
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| Price / Yield | Change |
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| US Treasury | | 2 YR Treasury | 4.766 | +0.059 | | 5 YR Treasury | 4.306 | +0.064 | | 7 YR Treasury | 4.280 | +0.060 | | 10 YR Treasury | 4.282 | +0.058 | | 30 YR Treasury | 4.409 | +0.061 | | Pricing as of: 6/17 5:31PM EST |
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