Mortgage Rates Recover After Downbeat Data

Economic data is one of the most basic and reliable inputs for the bond market. The bond market, in turn, dictates day to day interest rate movement. In general, weaker economic data pushes rates lower and that was today in a nutshell. Weekly Jobless Claims came in at the highest levels since 2021 and the bond market reacted immediately. It wasn't a huge move in the bigger picture, but enough to counteract the jump to higher rates seen on Wednesday. Bigger volatility remains a bigger risk surrounding next week's Consumer Price Index data on Tuesday and the Fed Announcement on Wednesday.

June 8, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Recover After Downbeat Data Economic data is one of the most basic and reliable inputs for the bond market. The bond market, in turn, dictates day to day interest rate movement. In general, weaker economic data pushes rates lower and that was today in a nutshell. W... (read more) MBS Commentary Claims Data Completely Erases At Least One Day of Higher Rate Expectations Claims Data Completely Erases At Least One Day of Higher Rate Expectations There have been been several days recently that have resulted in financial markets upping the odds for the Fed keeping rates higher f... (read more) Rob Chrisman HELOC, Affordable Housing, Servicing, QC, MSR Valuation Products; New Appraiser Education Standards? There’s a lot going on, and not only jawboning about a potential Fed rate increase next week. We have the smoke drifting down from Canada and slowing or stopping flights in the Northeast. The Wall Street Journal reports that China and Cuba have signe... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.90% -0.04% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.90% -0.04 0.00 15 Yr. Fixed 6.29% -0.03 0.00 30 Yr. FHA 6.58% -0.04 0.00 30 Yr. Jumbo 6.67% -0.02 0.00 5/1 ARM 6.90% +0.01 0.00 30 Yr. VA 6.57% -0.04 0.00 Updates Daily - Last Update: 6/8 15 Yr. Fixed Rate 6.29% -0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.71% -0.08 0.00 15 Yr. Fixed 6.07% -0.11 0.00 Updates Weekly - Last Update: 6/8 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.91% +0.22 0.83 15 Yr. Fixed 6.41% +0.26 0.84 30 Yr. Jumbo 6.78% +0.21 0.76 Updates Weekly - Last Update: 5/31 MBS / Treasuries UMBS 30YR 5.0 98.50 +0.58 Price / Yield Change MBS UMBS 5.0 98.50 +0.58 UMBS 5.5 100.03 +0.34 GNMA 5.0 98.67 +0.53 GNMA 5.5 100.03 +0.27 Pricing as of: 6/8 5:31PM EST 10 Year US Treasury 3.7180 -0.0750 Price / Yield Change US Treasury 2 YR Treasury 4.517 -0.035 5 YR Treasury 3.856 -0.079 7 YR Treasury 3.796 -0.083 10 YR Treasury 3.718 -0.075 30 YR Treasury 3.887 -0.062 Pricing as of: 6/8 5:31PM EST Latest Video Jobless claims increase more than expected to their highest since October 2... April wholesale inventories down by 0.1% Markets pricing out rate cuts for this year is the right move, says RegentA... Fed skipping rate hike 'makes a lot of sense,' says Jefferies' Zervos Around the Web CNBC Jobless claims increase more than expected to their highest since October 2021 CNBC The U.S. economy keeps skirting recession, but consumer sector might slowly be splitting apart Calculated Risk Blog The "Home ATM" was Closed in Q1; Mortgage Equity Withdrawal (MEW) turns negative in Q1 2023 CNBC Homeownership is a great way to build wealth, advisor says. Here's how make that purchase successful Eye on Housing Housing Affordability Posts Solid Gain but Still Much Lower from a Year Ago Calculated Risk Blog CoreLogic: 1.2 million Homeowners with Negative Equity in Q1 2023 Wall Street Journal Home Insurers Curb New Policies in Risky Areas Nationally CNBC Treasury yields climb as investors assess interest rate outlook CNBC Treasury Secretary Yellen says she wouldn't be surprised to see more bank consolidation CNBC Euro zone enters recession after Germany, Ireland growth revision Black Knight How Automation Can Help Lenders Run Lean Calculated Risk Blog Wholesale Used Car Prices Decreased in May; Down 7.6% Year-over-year Calculated Risk Blog Trade Deficit Increased to $74.6 Billion in April

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