Mortgage Rates Edge Lower Yet Again

What's Up With 'Secret' Jobs Revisions? When it was limited to social media, it was one thing, but alarming headlines regarding seemingly under-reported labor market visions hit the mainstream today. Given the big role or the labor market in the rate world these days, that seems highly relevant at first glance. But as was the case the last time the QCEW (Quarterly Census of Employment and Wages) was revised, there was plenty of sound and fury with very little significance for markets. The revision will be out on Wednesday morning. It isn't a new jobs number, and the market already expects a negative revision between 600k and 1m for the 12 months ending March 2024. Why all the focus on this topic (which pertains to data that's almost 6 months old)? Because it was a very boring, low-volume, uninspired day for bonds despite incidental gains. Econ Data / EventsLeading Indicators-0.6 vs -0.3 f'cast, -0.2 prev Market Movement Recap09:04 AM Roughly unchanged overnight but gaining ground early. MBS up 3 ticks (.09) and 10yr down 3.5bps at 3.837 01:05 PM Best levels of the day. MBS up 5 ticks (.16) and 10yr down 5.2bps at 3.82 03:34 PM sideways at best levels. No change from the last update and minimal movement since then.

August 20, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary What's Up With 'Secret' Jobs Revisions? What's Up With 'Secret' Jobs Revisions? When it was limited to social media, it was one thing, but alarming headlines regarding seemingly under-reported labor market visions hit the mainstream today. Gi... (read more) Mortgage Rate Watch Mortgage Rates Edge Lower Yet Again File today under "nice." While it wasn't amazing, significant, or even the byproduct of any interesting events, mortgage rates managed to drift modestly lower, ultimately matching their lowest levels since August 5th. The lowest ra... (read more) Rob Chrisman Tax Audit, NAR Information, Appraisal, DPA, Cyber-Attack Products ; Agency News; MBA's Sasha Hewlett on Capital Markets Sometimes things are confused with other things. (What do racoons think of Tesla trucks? Those trucks are easy to make fun of.) There isn’t a lot of confusion among the 700+ people attending the Western Secondary here near Los Angeles: stay in busine... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.49% -0.04% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.49% -0.04 0.00 15 Yr. Fixed 6.00% -0.13 0.00 30 Yr. FHA 5.98% -0.07 0.00 30 Yr. Jumbo 6.68% -0.04 0.00 7/6 SOFR ARM 6.42% -0.03 0.00 30 Yr. VA 6.00% -0.07 0.00 Updates Daily - Last Update: 8/20 15 Yr. Fixed Rate 6.00% -0.13% Rate Change Points Freddie Mac 30 Yr. Fixed 6.49% +0.02 0.00 15 Yr. Fixed 5.66% +0.03 0.00 Updates Weekly - Last Update: 8/15 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.54% -0.01 0.57 15 Yr. Fixed 5.96% -0.07 0.65 30 Yr. Jumbo 6.78% +0.01 0.37 Updates Weekly - Last Update: 8/14 MBS / Treasuries UMBS 30YR 5.5 100.75 +0.14 Price / Yield Change MBS UMBS 5.5 100.75 +0.14 UMBS 6.0 101.85 +0.09 GNMA 5.5 100.66 +0.08 GNMA 6.0 101.32 -0.04 Pricing as of: 8/20 5:31PM EST 10 Year US Treasury 3.8076 -0.0645 Price / Yield Change US Treasury 2 YR Treasury 3.989 -0.073 5 YR Treasury 3.690 -0.066 7 YR Treasury 3.726 -0.063 10 YR Treasury 3.808 -0.065 30 YR Treasury 4.058 -0.065 Pricing as of: 8/20 5:31PM EST Latest Video Consumers are thinking longer and harder about where to spend their money, ... Rate cuts may have stronger impact than market is pricing in, says BMO's Yu... Shah: The key data to watch from here is everything to do with the labor ma... Fed needs to adjust narrative away from inflation, says Morgan Stanley's Br... Around the Web NAR NAR: Houses don’t stay on market long in these hot ZIP codes CNBC 'Starter home' tax breaks, aid for first-time buyers: What to know about Harris' affordable housing proposals CNBC Treasury yields hover as investor await Fed updates Eye on Housing Solid Levels of Single-Family Built-for-Rent Construction CNBC Brits snap up lower mortgage deals as BOE rate cut boosts property market Eye on Housing A Data Profile of NAHB Remodelers CNBC Fed survey shows lows in employment, worries about finding work and dissatisfaction with pay Calculated Risk Blog Lawler: Early Read on Existing Home Sales in July and 3rd Look at Local Housing Markets Marketwatch U.S. leading indicators index falls in July, but is not signaling recession Calculated Risk Blog Housing August 19th Weekly Update: Inventory up 0.8% Week-over-week, Up 40.4% Year-over-year Eye on Housing Best Quarter for Custom Home Building in Almost Two Years CNBC Oil prices fall for fourth session in five as U.S. pushes for Gaza cease-fire CNBC U.S. crude oil holds steady above $74 per barrel after selling off

© 2024 Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: newsletter@newslettercollector.com. Go here to UNSUBSCRIBE from this email.