Mortgage Rates Slightly Lower to Start The Week

While the news media bonfire on the recent LLPA tweak is only getting started, it's time for us to shift gears back to boring old mortgage rates (if you're not sure what that means, read my coverage of the LLPA stuff from Friday). And while today's rate momentum was indeed boring, it was at least generally favorable for fans of low rates. The average lender moved slightly lower in cost. The change was small enough that most borrowers will see it in the form of a modest reduction in upfront costs without any change in the quoted interest rate (relative to what the same scenario would have been quoted on Friday). Rates dropped due to improvement in the bond market, but improvement in the bond market doesn't have a clear root cause as far as economic data or news headlines are concerned. There weren't even any meaningful data releases today. The rest of the week will see a bit more economic data, but the reports that would be considered the most important are all on Thursday or Friday. In the bigger picture, rates have been mostly sideways and waiting on a consensus from the data to suggest the next big move. Lower inflation and economic growth would push rates lower. Persistent inflation and resilient growth would nudge rates higher.

April 24, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Slightly Lower to Start The Week While the news media bonfire on the recent LLPA tweak is only getting started, it's time for us to shift gears back to boring old mortgage rates (if you're not sure what that means, read my coverage of the LLPA stuff from Friday). And while tod... (read more) MBS Commentary Bonds Should Have Taken The 3-Day Weekend Should Have Taken The 3-Day Weekend! Every so often, the bond market has a Monday that does absolutely nothing at all to change the prevailing narrative or introduce any new considerations. When these M... (read more) Rob Chrisman Bi-Lingual, Subservicing, POS, Warehouse Products; STRATMOR Comp Survey; Freddie and Fannie Changes I head to Colorado Springs this morning, the scene of $3,000 mountain bikes in bike racks on top of $500 cars. There are roughly 380 bank branches in the city, including mortgage lender NBH. On the flip side, do you work at a non-depository bank, lik... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.59% -0.07% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.59% -0.07 0.00 15 Yr. Fixed 6.00% -0.04 0.00 30 Yr. FHA 6.20% -0.05 0.00 30 Yr. Jumbo 6.19% -0.01 0.00 5/1 ARM 6.83% +0.01 0.00 30 Yr. VA 6.21% -0.04 0.00 Updates Daily - Last Update: 4/24 15 Yr. Fixed Rate 6.00% -0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 6.39% +0.12 0.00 15 Yr. Fixed 5.76% +0.22 0.00 Updates Weekly - Last Update: 4/20 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% +0.13 0.63 15 Yr. Fixed 5.89% +0.11 0.65 30 Yr. Jumbo 6.28% +0.02 0.51 Updates Weekly - Last Update: 4/19 MBS / Treasuries UMBS 30YR 5.0 99.39 +0.34 Price / Yield Change MBS UMBS 5.0 99.39 +0.34 UMBS 5.5 100.61 +0.06 GNMA 5.0 99.55 +0.16 GNMA 5.5 100.56 -0.03 Pricing as of: 4/24 5:31PM EST 10 Year US Treasury 3.4958 -0.0722 Price / Yield Change US Treasury 2 YR Treasury 4.103 -0.076 5 YR Treasury 3.572 -0.089 7 YR Treasury 3.534 -0.080 10 YR Treasury 3.496 -0.072 30 YR Treasury 3.715 -0.057 Pricing as of: 4/24 5:31PM EST Latest Video Bond market 'certainly' getting nervous as debt ceiling remains in limbo, s... Indicators are suggesting a recession is 'likely' this year: Strategas Rese... The bond market recognizes that there is a lot of uncertainty: Allianz's Mo... Debt ceiling deal will require give and take on both sides, says former Rep... Around the Web CNBC Treasury yields fall as investors take stock of U.S. economic outlook Eye on Housing Lower Rates Spark Housing Demand The Basis Point March 2023 rents down on 23% of houses, same on 29% of houses, up on 48% of houses CNBC First Republic says deposits tumbled 40% to $104.5 billion in 1Q, but have stabilized since wells fargo FOMC Blackout Period Begins:Is the Tightening Cycle Coming to an End? Calculated Risk Blog Final Look at Local Housing Markets in March MBA FHFA Needs a Better Plan on Loan Level Pricing Fees Calculated Risk Housing April 24th Weekly Update: Inventory Increased 2.1% Week-over-week Black Knight Black Knights First Look at March 2023 Mortgage Data Calculated Risk Blog Why Measures of Existing Home Inventory appear Different Calculated Risk Blog Q1 GDP Tracking: Around 2% CNBC Treasury proposes new process to spot risks after SVB, Signature Bank failures Calculated Risk Blog Schedule for Week of April 23, 2023

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