Mortgage Rates Stabilize After 3 Day Losing Streak

No Fireworks Expected From Fed Minutes Day 4 of the 11 day weekend is in the books and the bond market did exactly what you'd expect if you were expecting the least interesting outcoming. Specifically, yields had drifted as high as 4.45+ in the overnight session. That's a bit too close to the 4.50 range boundary for 11 day weekends! But traders figured it out and started pushing back toward more central levels in spite of several Fed comments that might be considered hawkish. Speaking of the Fed, tomorrow brings the minutes from the most recent meeting (3 weeks ago). While Fed minutes have had huge impacts in the past, we're not expecting fireworks from this installment. Market Movement Recap10:26 AM Modestly stronger overnight with additional gains in the first two hours. 10yr down 3.4bps at 4.412 and MBS up 5 ticks (.16). 11:40 AM Mostly sideways, near best levels. MBS up 5 ticks (.16) and 10yr down 3.7 at 4.409 02:45 PM Guess what! Still sideways. MBS up 5 ticks (.16) and 10yr down 3.4bps at 4.412

May 21, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary No Fireworks Expected From Fed Minutes No Fireworks Expected From Fed Minutes Day 4 of the 11 day weekend is in the books and the bond market did exactly what you'd expect if you were expecting the least interesting outcoming. Specifically, ... (read more) Mortgage Rate Watch Mortgage Rates Stabilize After 3 Day Losing Streak Referring to the past 3 business days as a "losing streak" for mortgage rates may be a bit harsh. During that time, the average top tier 30yr fixed rate rose less than an eighth of a percent--the smallest increment typically separating one rate... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.05% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.05% -0.05 0.00 15 Yr. Fixed 6.58% +0.01 0.00 30 Yr. FHA 6.62% -0.02 0.00 30 Yr. Jumbo 7.34% -0.01 0.00 7/6 SOFR ARM 7.25% -0.05 0.00 30 Yr. VA 6.64% -0.01 0.00 Updates Daily - Last Update: 5/21 15 Yr. Fixed Rate 6.58% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 7.02% -0.07 0.00 15 Yr. Fixed 6.28% -0.10 0.00 Updates Weekly - Last Update: 5/16 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.08% -0.10 0.63 15 Yr. Fixed 6.61% +0.01 0.65 30 Yr. Jumbo 7.22% -0.09 0.58 Updates Weekly - Last Update: 5/15 MBS / Treasuries UMBS 30YR 6.0 100.52 +0.18 Price / Yield Change MBS UMBS 6.0 100.52 +0.18 UMBS 6.5 101.86 +0.13 GNMA 6.0 100.83 +0.09 GNMA 6.5 101.64 +0.12 Pricing as of: 5/21 5:31PM EST 10 Year US Treasury 4.4125 -0.0333 Price / Yield Change US Treasury 2 YR Treasury 4.833 -0.018 5 YR Treasury 4.436 -0.032 7 YR Treasury 4.419 -0.033 10 YR Treasury 4.413 -0.033 30 YR Treasury 4.550 -0.034 Pricing as of: 5/21 5:31PM EST Latest Video Fed Governor Christopher Waller: Don't think we are going to need to raise ... 'Several months' of good inflation data needed before lowering rate, Fed's ... Hightower's Stephanie Link: Inflation will remain elevated because of stron... Fed is in 'wait and see' mode on rate policy timeline, says Bleakley's Pete... Around the Web CNBC 1 in 3 millennials, Gen Zers plan to tap into retirement savings to buy a home. They 'really shouldn't,' advisor says CNBC Here's where rents are rising and where they're falling Eye on Housing New Single-Family Home Size Decline Continues Calculated Risk Blog What Happened to "Paying off the National Debt"? Marketwatch Feds Mester says forecast of 3 rate hikes this year is now probably too many Calculated Risk Blog Single Family Built-for-Rent Up 20% Year-over-year in Q1 Federal Reserve Jefferson, U.S. Economic Outlook and Housing PriceDynamics CNBC Fed Governor Waller wants 'several months' of good inflation data before lowering rates CNBC One-third of single-family homes for sale are newly built, report finds. Here's what buyers need to know Reuters Fed's Jefferson, Barr sound cautious note on inflation Federal Reserve Barr, On Building a Resilient Regulatory Framework CNBC Treasury yields hold steady as investors weigh inflation, interest rate outlook Federal Reserve Powell, Georgetown University Law Center CommencementAddress

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