Mortgage Rates Drift Slightly Higher

After hitting the lowest levels in 4 months at times over the past week, rates have drifted up a bit. There hasn't been much rhyme or reason behind the bounce. In other words, there wasn't some important economic report or Fed policy shift that spooked the underlying bond market (rates are determined primarily by bond prices/yields). In fact, it wouldn't be unfair to say that some of the recent upward momentum in rates could simply be a reaction to early January's well of downward momentum running dry. The week ahead is a bit of a wild card as there are no hotly anticipated events on tap. Some market participants might make a case that the first look at Q4 GDP on Thursday or the PCE inflation on Friday are exceptions to that claim, but they pale in comparison to next week's Fed announcement and Friday's jobs report. The average lender is moving back up toward the mid 6's when it comes to conventional 30yr fixed rates for top tier scenarios.

January 23, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Drift Slightly Higher After hitting the lowest levels in 4 months at times over the past week, rates have drifted up a bit. There hasn't been much rhyme or reason behind the bounce. In other words, there wasn't some important economic report or Fed policy shif... (read more) MBS Commentary Bonds Have a Case of The Mondays Bonds Have a Case of The Mondays Unlike the past 3 Mondays, which have seen fairly healthy participation and volumes, today ended up trading more like one of the Mondays seen during the less active times of y... (read more) Rob Chrisman Cybersecurity, Efficiency, DSCR, Lead Management, Correspondent Products, Freddie/Fannie Changes Continue Do you know what “splooting” is? Here’s a hint: 4-legged animals do it. (Hey, I don’t make these things up.) Quite the word. Words are very interesting, and can incite a riot, help someone get through a loss, make up this Commentary, entertain. Every... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.20% +0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.20% +0.05 0.00 15 Yr. Fixed 5.25% +0.06 0.00 30 Yr. FHA 5.80% +0.05 0.00 30 Yr. Jumbo 5.72% +0.02 0.00 5/1 ARM 6.04% +0.04 0.00 30 Yr. VA 5.85% +0.05 0.00 Updates Daily - Last Update: 1/23 15 Yr. Fixed Rate 5.25% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.15% -0.18 0.00 15 Yr. Fixed 5.28% -0.24 0.00 Updates Weekly - Last Update: 1/19 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.23% -0.19 0.67 15 Yr. Fixed 5.58% -0.36 0.54 30 Yr. Jumbo 6.08% -0.01 0.40 Updates Weekly - Last Update: 1/18 MBS / Treasuries UMBS 30YR 5.0 100.05 -0.19 Price / Yield Change MBS UMBS 5.0 100.05 -0.19 UMBS 5.5 101.23 -0.11 GNMA 5.0 100.14 -0.19 GNMA 5.5 101.02 -0.11 Pricing as of: 1/23 5:31PM EST 10 Year US Treasury 3.5170 +0.0350 Price / Yield Change US Treasury 2 YR Treasury 4.229 +0.052 5 YR Treasury 3.622 +0.057 7 YR Treasury 3.565 +0.043 10 YR Treasury 3.517 +0.035 30 YR Treasury 3.683 +0.034 Pricing as of: 1/23 5:31PM EST Latest Video U.S. hits record transaction prices for new vehicles as inventory remains u... A recession is far from inevitable, says Harvard's Jason Furman Real estate remain's a sellers' market, says Realtor.com's Danielle Hale Existing home sales fell 1.5% in December Around the Web Eye on Housing Fewer Adults are Planning a Home Purchase Calculated Risk Blog 1.51 million Total Housing Completions in 2022 including Manufactured Homes; Most Since 2007 Calculated Risk Blog LA Port Inbound Traffic Down 20% YoY in December Calculated Risk Blog Housing January 23rd Weekly Update: Inventory Decreased Slightly Week-over-week CNBC Treasury yields hold steady as investors assess monetary policy outlook CNBC Existing home sales fell for the 11th consecutive month in December, hitting the slowest pace since November 2010 Marketwatch Fed’s George says too soon to say inflation is on right trend Calculated Risk Blog NAR: Existing-Home Sales Decreased to 4.02 million SAAR in December; Median Prices Down 11.3% from Peak in June 2022 Wall Street Journal Consumer Prices Plateau as Inflation Slows to Prepandemic Levels Calculated Risk Blog Q4 GDP Tracking: Mid-to-high 2s CNBC Treasury yields rise as investors look to Fed speakers for hints about U.S. economic outlook Calculated Risk Blog Monetary Policy: The Pause that Refreshes? CNBC European Central Bank's Lagarde says China's Covid reopening will push inflation higher

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