Mortgage Rates Slightly Higher, But Bigger Volatility is Coming

Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report that has the biggest impact on the market. The next CPI comes out next Tuesday. Much of the time spent between these two reports could be described as an inconsequential waiting game. Today's rates happened to be a bit higher than yesterday's, but we're talking about levels of movement that are only going to matter to borrowers who are actively looking to lock a rate this week. Even then, the changes won't be big enough for many borrowers to care. All of that changes next week, or at least it has the most potential to change next week. The CPI report comes out on Tuesday. If that's not enough to cause an extreme reaction in the bond market, the Fed announcement is out the next day and it can also pack a punch. Between now and then, while there are never any guarantees about the future when it comes to financial markets, rates aren't likely to be anywhere other than the mid-to-low 6% range for top tier conventional 30yr fixed scenarios.

December 8, 2022 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Slightly Higher, But Bigger Volatility is Coming Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report that has the biggest impact on the market. The next CPI comes out next Tuesday. Much of ... (read more) MBS Commentary Uneventful Trading Day Despite Moderate Weakness Uneventful Trading Day Despite Moderate Weakness Today had the feel of a holiday trading day in the bond market--especially for MBS which traded their narrowest, most sideways range in more than a month. That... (read more) Rob Chrisman Comp Strategy, Non-QM, Fee Collection, Marketing Products; U.S. Bank's Wholesale Decision Yesterday I spent some time in Northern California with two groups, one of which was CAMP, and while morale is good and everyone is in the holiday spirit, the business focus is on trying to reduce costs, rollout products to help what few borrowers ar... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.32% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.32% +0.03 0.00 15 Yr. Fixed 5.74% +0.02 0.00 30 Yr. FHA 5.82% +0.04 0.00 30 Yr. Jumbo 5.72% +0.02 0.00 5/1 ARM 5.87% -0.03 0.00 30 Yr. VA 5.90% +0.07 0.00 Updates Daily - Last Update: 12/8 15 Yr. Fixed Rate 5.74% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.33% -0.16 0.00 15 Yr. Fixed 5.67% -0.09 0.00 Updates Weekly - Last Update: 12/8 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.41% -0.08 0.00 15 Yr. Fixed 5.84% -0.18 0.55 30 Yr. Jumbo 6.08% -0.27 0.50 Updates Weekly - Last Update: 12/7 MBS / Treasuries UMBS 30YR 5.0 99.58 -0.42 Price / Yield Change MBS UMBS 5.0 99.58 -0.42 UMBS 5.5 101.03 -0.30 GNMA 5.0 99.69 -0.31 GNMA 5.5 100.78 -0.17 Pricing as of: 12/8 5:31PM EST 10 Year US Treasury 3.4856 +0.0651 Price / Yield Change US Treasury 2 YR Treasury 4.312 +0.048 5 YR Treasury 3.710 +0.083 7 YR Treasury 3.627 +0.081 10 YR Treasury 3.486 +0.065 30 YR Treasury 3.433 0.000 Pricing as of: 12/8 5:31PM EST Latest Video Mortgage rates fall ahead of upcoming inflation report Weekly U.S. jobless claims increase to 230,000, in line with expectations The 9am Bond Report - December 8, 2022 The 2pm Bond Report - December 7, 2022 Around the Web Calculated Risk Blog 2023 Housing Forecasts CNBC Blackstone chief defends real estate fund amid rush for withdrawals CNBC Fed policymakers will see 'they blew it' with interest rate hikes, predicts Starwood Capital's Barry Sternlicht Calculated Risk Blog 1st Look at Local Housing Markets in November Calculated Risk Blog Update: Framing Lumber Prices Close to Pre-Pandemic Levels CNBC Treasury yields climb as investors fret over Fed policy Eye on Housing Share of Bedrooms in New Homes in 2021 Eye on Housing Custom Home Building Share Declines Slightly CNBC There is a slowdown happening Wells Fargo, BofA CEOs point to cooling consumer amid Fed hikes Yahoo Bank of Canada hikes benchmark rate by another 50 basis points CNBC Treasury yields mixed as investors assess outlook for U.S. economy Calculated Risk Blog AAR: November Rail Carloads Down Slightly Year-over-year, Intermodal Down CNBC European markets head for flat open as nervousness over the global economy dominates sentiment

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