Mortgage Rates Near 1-Month Lows

Mortgage rates inched lower again on Thursday as economic reports came out slightly weaker and bank sector concerns remain in the spotlight. Such things are beneficial for the price of bonds which are seen as a safe haven against market uncertainty or economic weakness. As the price of bonds increases, rates fall, all other things being equal. The movement isn't earth shattering. In fact, many borrowers may only see slightly lower upfront costs for the same "note rates" that were quoted yesterday. But the incremental gain gets the average lender close to the best levels in a month. It's worth noting that it doesn't take nearly as much movement to facilitate such claims in the current environment. Rates have been operating in a range that is much flatter and more narrow than almost any other time since May 2022.

May 11, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Near 1-Month Lows Mortgage rates inched lower again on Thursday as economic reports came out slightly weaker and bank sector concerns remain in the spotlight. Such things are beneficial for the price of bonds which are seen as a safe haven against market uncerta... (read more) MBS Commentary Rally or Resistance? Rally or Resistance? The bond market rallied on Thursday with 10yr yields dropping about 5bps to just under 3.40% after a smattering of bank drama and softer economic data in the morning. That said, whe... (read more) Rob Chrisman Correspondent, Servicing, Due Diligence Products; Earnings; DTI Change Recission In Boston, “wicked pissa smart” is a compliment. I’ll argue that success in lending isn’t based on trying to predict where interest rates are going, since many predictions are a coin toss, but instead on lots of smarts, hard work, and building a busi... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.49% -0.08% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.49% -0.08 0.00 15 Yr. Fixed 5.90% -0.05 0.00 30 Yr. FHA 6.12% -0.06 0.00 30 Yr. Jumbo 6.34% -0.01 0.00 5/1 ARM 6.76% +0.01 0.00 30 Yr. VA 6.12% -0.07 0.00 Updates Daily - Last Update: 5/11 15 Yr. Fixed Rate 5.90% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.35% -0.04 0.00 15 Yr. Fixed 5.75% -0.01 0.00 Updates Weekly - Last Update: 5/11 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.55% +0.12 0.63 15 Yr. Fixed 6.03% +0.14 0.56 30 Yr. Jumbo 6.40% +0.12 0.50 Updates Weekly - Last Update: 4/26 MBS / Treasuries UMBS 30YR 5.0 99.75 +0.13 Price / Yield Change MBS UMBS 5.0 99.75 +0.13 UMBS 5.5 100.98 +0.11 GNMA 5.0 99.86 +0.11 GNMA 5.5 100.72 +0.08 Pricing as of: 5/11 5:31PM EST 10 Year US Treasury 3.3880 -0.0510 Price / Yield Change US Treasury 2 YR Treasury 3.901 -0.009 5 YR Treasury 3.359 -0.020 7 YR Treasury 3.367 -0.036 10 YR Treasury 3.388 -0.051 30 YR Treasury 3.740 -0.056 Pricing as of: 5/11 5:31PM EST Latest Video PacWest shares tumble 20% after regional bank says deposits fell 9.5% last ... Fed will not pivot to rate cuts so quickly: Charles Schwab's Sonders PacWest losing Insured deposits would be a huge concern, says Wedbush's Dav... Fed needs to start thinking about cuts in softening economy, says Annandale... Around the Web Calculated Risk Blog Part 1: Current State of the Housing Market; Overview for mid-April CNBC Jamie Dimon warns panic will overtake markets as U.S. approaches debt default CNBC Debt ceiling meeting among Biden and congressional leaders postponed until next week, source says Axios FDIC proposes big banks pay to recover losses in SVB and Signature failures CNBC Fed Governor Waller casts doubt on need to conduct climate-change tests for banks CNBC Wholesale prices rose just 0.2% in April, less than estimate as inflation pressures ease Calculated Risk Blog MBA: "Mortgage Delinquency Rate in First-Quarter 2023 Declines to Second-Lowest Level in MBAs Survey" CNBC PacWest shares tumble 20% after regional bank says deposits fell 9.5% last week CNBC Bank of England hikes rates by 25 basis points, no longer sees recession Calculated Risk Blog Weekly Initial Unemployment Claims increase to 264,000 Eye on Housing Building Materials Prices Decline in April Despite Increased Lumber Costs The Basis Point JPMorgan CEO Dimon: I dont know what too big to fail means anymore CNBC Bank of England chief Bailey defends record growth upgrade, admits communication error

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