Mortgage Rates Bounce Slightly Higher

MBS Outperform as Treasuries Get Hit by Issuance By 4pm, 5.0 MBS are only down a hair over an eighth of a point, and had bounced back by more than quarter point from mid-day lows. Treasuries, on the other hand, were still up 8bps in yield, and close enough to their weakest levels of the day. The latter have been hit harder by issuance headwinds. This refers not only to the Treasury auction cycle on the calendar, but also to the more variable landscape of corporate debt, which has a bigger impact on Treasuries vs MBS. Curve trading also continues to weigh on 10s (2yr yields were up only 3bps). In the bigger picture, this just looks like consolidation ahead of Thursday's CPI data. Econ Data / EventsWholesale Inventories 1.0 vs 1.0 f'cast, 1.0 prev Market Movement Recap09:01 AM Moderately weaker overnight with some additional selling in early US trading. Modest bounce just now as Powell didn't comment on policy in today's scheduled speech. 10yr up 4.7bps on the day at 3.573 and MBS are down only 3 ticks (.09). 11:46 AM Weakness is snowballing a bit, 10yr up 10.7bps at 3.634 and MBS down 3/8ths. 02:28 PM Decent bounce back in the PM hours, but more so for MBS than Treasuries. 10yr still up 8.4bps at 3.611 and MBS down just over an eighth of a point (but up a quarter point from AM lows).

January 10, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary MBS Outperform as Treasuries Get Hit by Issuance MBS Outperform as Treasuries Get Hit by Issuance By 4pm, 5.0 MBS are only down a hair over an eighth of a point, and had bounced back by more than quarter point from mid-day lows. Treasuries, on the oth... (read more) Mortgage Rate Watch Mortgage Rates Bounce Slightly Higher After coming close to the lowest levels in 4 months yesterday, mortgage rates bounced slightly higher today. There's never any way to know exactly what rates will do in the future, but it's not a huge surprise to see the bond market (bonds dict... (read more) Rob Chrisman Trading, Servicing Transfer, CRM Products; STRATMOR on Bank Market Share; Wholesaler and TPO News “Someone asked me to name two structures that hold water. I was like, well, damn.” As the storms continue to hit us in Northern California and Nevada, not only is my cat Myrtle ticked off, but we are reminded that it is either feast or famine in the ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.21% +0.07% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.21% +0.07 0.00 15 Yr. Fixed 5.45% +0.05 0.00 30 Yr. FHA 5.88% +0.06 0.00 30 Yr. Jumbo 5.75% +0.03 0.00 5/1 ARM 6.07% +0.02 0.00 30 Yr. VA 5.90% +0.05 0.00 Updates Daily - Last Update: 1/10 15 Yr. Fixed Rate 5.45% +0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.48% +0.06 0.00 15 Yr. Fixed 5.73% +0.05 0.00 Updates Weekly - Last Update: 1/5 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.34% 0.00 0.59 15 Yr. Fixed 5.81% 0.00 0.53 30 Yr. Jumbo 5.97% 0.00 0.53 Updates Weekly - Last Update: 12/28 MBS / Treasuries UMBS 30YR 5.0 99.89 -0.14 Price / Yield Change MBS UMBS 5.0 99.89 -0.14 UMBS 5.5 101.17 -0.17 GNMA 5.0 100.08 -0.13 GNMA 5.5 101.03 -0.20 Pricing as of: 1/10 5:31PM EST 10 Year US Treasury 3.6225 +0.0955 Price / Yield Change US Treasury 2 YR Treasury 4.251 +0.043 5 YR Treasury 3.732 +0.065 7 YR Treasury 3.683 +0.083 10 YR Treasury 3.623 +0.096 30 YR Treasury 3.757 +0.106 Pricing as of: 1/10 5:31PM EST Latest Video Former Fed President: I don't know if the market has discounted a Fed funds... November wholesale inventories up 1% Is the Fed tone-deaf? We are underbuilt as a nation and need homes, says UBS analyst Around the Web Eye on Housing How Many Households Are Priced Out By Higher Mortgage Rates in 2022? Calculated Risk Blog Second Home Market: South Lake Tahoe in December CNBC Fed's Bowman says there's 'a lot more work to do' to bring down inflation CNBC Biden administration proposes new student loan repayment plan that could cut some payments in half CNBC Powell stresses need for Fed's political independence while tackling inflation CNBC Consumer confidence in housing finally rises, thanks to falling home prices Calculated Risk Blog 2nd Look at Local Housing Markets in December Calculated Risk Blog Question #5 for 2023: What will the YoY core inflation rate be in December 2023? Brookings Inst. Helping renters build assets and move out of poverty by scaling HUDs best kept secret CNBC Treasury yields rise as investors look to Fed speakers for hints about rate policy plans Black Knight Cordless Media Implements the Optimal Blue Lead-Quoting API to Quickly Connect Lenders With Homebuyers Eye on Housing Residential Building Worker Wage Growth Slowed CNBC Consumer confidence in housing finally rises, thanks to falling home prices

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