Mortgage Rates Just a Bit Lower as Winning Streak Hits 5 Days

Strong in The AM, Weaker in The PM Bonds improved fairly steadily in the AM hours. After an initial glut of buying demand in the first hour of trading, there was a linear trend channel to the best level of the day right at noon ET. After that, a similarly linear trend took bonds back toward (but not into) weaker territory. None of the above occurred outside a range that we'd consider anything other than uneventful. Overseas data and trading likely helped play a role in the ebb and flow. The 3yr Treasury auction didn't have a big impact, but concession-building for tomorrow's 10yr auction could have contributed to the afternoon weakness. Market Movement Recap09:31 AM modestly stronger overnight with better buying after the 8:20am CME open. MBS up 5 ticks (.16) and 10yr down 4bps at 4.445 11:44 AM Best levels of the day with MBS up 6 ticks (.19) and 10yr down 6bps at 4.425 01:54 PM No major reaction to 3yr auction. MBS still up 6 ticks (.19). 10yr down 4.1bps at 4.445 02:43 PM steady weakness in the PM hours, but still stronger on the day. UMBS 6.0 still up 6 ticks (.19), but down an eighth from the highs. 10yr still down 2.8bps at 4.458 but up almost 4bps from lows. 04:04 PM Modest bounce keeps bonds safely green in the final hour. MBS up 6 ticks (.19) and 10yr down 3.3bps at 4.454

May 7, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Strong in The AM, Weaker in The PM Strong in The AM, Weaker in The PM Bonds improved fairly steadily in the AM hours. After an initial glut of buying demand in the first hour of trading, there was a linear trend channel to the best level... (read more) Mortgage Rate Watch Mortgage Rates Just a Bit Lower as Winning Streak Hits 5 Days There have been 3 winning streaks for mortgage rates in 2024 where the average rate has moved lower for at least 5 days and where the conventional 30yr fixed rate has fallen by more than 0.25%. Before today, there were only two. Th... (read more) Rob Chrisman Fee Collection, Flood Insurance, Servicing, DPA Products; Redwood and Home Equity; Agency News Lynyrd Skynyrd sang, “Sweet home, Alabama, where the skies are so blue…” Through the wonders of airship transportation, today I’m off to Alabama. The skies won’t be blue all the time with some rain in the forecast, but that won’t stop attendees at th... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.19% -0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.19% -0.06 0.00 15 Yr. Fixed 6.64% -0.04 0.00 30 Yr. FHA 6.62% -0.02 0.00 30 Yr. Jumbo 7.41% -0.04 0.00 7/6 SOFR ARM 7.30% -0.02 0.00 30 Yr. VA 6.64% -0.01 0.00 Updates Daily - Last Update: 5/7 15 Yr. Fixed Rate 6.64% -0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 7.22% +0.05 0.00 15 Yr. Fixed 6.47% +0.03 0.00 Updates Weekly - Last Update: 5/2 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.24% +0.11 0.66 15 Yr. Fixed 6.75% +0.11 0.64 30 Yr. Jumbo 7.45% +0.05 0.56 Updates Weekly - Last Update: 4/24 MBS / Treasuries UMBS 30YR 6.0 100.22 +0.17 Price / Yield Change MBS UMBS 6.0 100.22 +0.17 UMBS 6.5 101.68 +0.18 GNMA 6.0 101.13 +0.21 GNMA 6.5 101.67 +0.10 Pricing as of: 5/7 5:31PM EST 10 Year US Treasury 4.4590 -0.0269 Price / Yield Change US Treasury 2 YR Treasury 4.828 0.000 5 YR Treasury 4.471 -0.024 7 YR Treasury 4.459 -0.024 10 YR Treasury 4.459 -0.027 30 YR Treasury 4.602 -0.034 Pricing as of: 5/7 5:31PM EST Latest Video The Fed 'shouldn't be using forward guidance,' says Ironsides Macroeconomic... The housing market is 'pretty dire' for younger Americans, says Realtor.com... The Fed will have 'a lot higher threshold for pain' in its inflation fight:... Inflation was last year's story, says Brookfield CEO Bruce Flatt Around the Web Marketwatch Fed's Kashkari doesn't rule out a rate hike Marketwatch Fed's Kashkari doesn't rule out a rate hike Marketwatch U.S. consumers pull back sharply on credit-card use in March CNBC More home sellers are paying capital gains taxes heres how to reduce your bill Calculated Risk Blog Wholesale Used Car Prices Declined in April; Down 14.0% Year-over-year Federal Reserve Bank Minneapolis Policy Has Tightened a Lot. How Tight Is It? (An Update) Calculated Risk Blog CoreLogic: US Home Prices Increased 5.3% Year-over-year in March Marketwatch Fed's Barkin thinks the U.S. economy will slow further, cooling down inflation Calculated Risk Blog Asking Rents Mostly Unchanged Year-over-year CNBC Treasury yields fall as investors consider Fed policy path Calculated Risk Blog Fed SLOOS Survey: Banks reported Tighter Standards, Weaker Demand for almost All Loan Types Calculated Risk Blog Fannie "Real Estate Owned" inventory Decreased in Q1 2024 Eye on Housing Positive Momentum in Demand, Lending Conditions: Q1 2024 SLOOS

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