Mortgage Rates Trickle to New 6 Month Low Before Fed Announcement

Data and Headlines Drive Modest Volatility Ahead of The Fed There were two different bouts of modest volatility in the bond market today. The first followed the 10am JOLTS data as the stronger headline/revisions caused some initial selling. Buyers bounced back with help from softer internal components--both in JOLTS and via the labor differential in the Consumer Confidence data. Afternoon volatility followed headlines regarding a rocket attack in Beirut which left bonds sideways near their best levels of the day. The Fed announcement is the next major calendar event, but Wednesday AM data is still capable of causing some movement. Econ Data / EventsJob Openings8.184m vs 8.0m f'cast, 8.23m prev Job Quits (lower is better)3.282 vs 3.459m prev Consumer Confidence100.3 vs 99.7 f'cast, 100.4 prev Market Movement Recap10:22 AM Unchanged overnight, stronger early, now back to unchanged after data. MBS down 1 tick (0.03). 10yr down 0.5bps at 4.17 01:04 PM Quick surge in bonds on geopolitical headlines. 10yr down 3.4bps at 4.142. MBS up an eighth. 03:29 PM Fairly flat after early afternoon gains. 10yr down 3.6bps at 4.141. MBS up an eighth.

July 30, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Data and Headlines Drive Modest Volatility Ahead of The Fed Data and Headlines Drive Modest Volatility Ahead of The Fed There were two different bouts of modest volatility in the bond market today. The first followed the 10am JOLTS data as the stronger headline/... (read more) Mortgage Rate Watch Mortgage Rates Trickle to New 6 Month Low Before Fed Announcement Mortgage rates began the day with the average lender quoting just slightly higher rates compared to yesterday's latest levels. By the end of the day, however, that average had fallen to its lowest level in more than 6 months, even if only by th... (read more) Rob Chrisman Borrower Checklist, POS, Subservicer Products; STRATMOR on Purchase Business; Fannie's Earnings Is it a surprise to anyone that millions of renters could afford to buy a home with their mortgage payment not exceeding 30 percent of their income? Despite 39 percent of U.S. families renting in 2022, nearly 8 million qualified as "income mortgage-r... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.80% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.80% -0.01 0.00 15 Yr. Fixed 6.30% -0.01 0.00 30 Yr. FHA 6.40% +0.15 0.00 30 Yr. Jumbo 6.99% -0.01 0.00 7/6 SOFR ARM 6.45% -0.02 0.00 30 Yr. VA 6.26% -0.02 0.00 Updates Daily - Last Update: 7/30 15 Yr. Fixed Rate 6.30% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.07% +0.02 0.00 Updates Weekly - Last Update: 7/25 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.00% -0.03 0.60 15 Yr. Fixed 6.63% +0.07 0.61 30 Yr. Jumbo 7.13% +0.02 0.38 Updates Weekly - Last Update: 7/10 MBS / Treasuries UMBS 30YR 5.5 99.81 +0.13 Price / Yield Change MBS UMBS 5.5 99.81 +0.13 UMBS 6.0 101.19 +0.12 GNMA 5.5 100.10 +0.13 GNMA 6.0 101.02 +0.14 Pricing as of: 7/30 5:31PM EST 10 Year US Treasury 4.1409 -0.0359 Price / Yield Change US Treasury 2 YR Treasury 4.361 -0.041 5 YR Treasury 4.034 -0.041 7 YR Treasury 4.063 -0.041 10 YR Treasury 4.141 -0.036 30 YR Treasury 4.399 -0.027 Pricing as of: 7/30 5:31PM EST Latest Video Inflation has been 'streaky' and a rate cut may be premature, says former R... Overall sentiment for regional banks has gone up in anticipation for rate c... JOLTs and consumer confidence data beat expectations CNBC Fed Survey: 81% of respondents expect first rate cut in September Around the Web CNBC Housing affordability is 'moving in the right direction,' economist says. Here's what to know Marketwatch Job openings fall slightly. Labor market is still strong but cooling Marketwatch Home prices climb to set another record high in May, Case-Shiller says, but rise is losing steam Reuters US Treasury expects to borrow $740 billion in third quarter Marketwatch Consumer confidence picks up a bit in July Eye on Housing Home Price Gains Moderate for Third Straight Month Eye on Housing Downshift for Construction Job Openings CNBC U.S. crude oil falls below $76 per barrel, lowest level since early June CNBC 2-year Treasury yield inches higher as Fed meeting is set to begin Calculated Risk Blog Comments on May Case-Shiller House Prices, FHFA: House Prices Unchanged in May Calculated Risk Blog HVS: Q2 2024 Homeownership and Vacancy Rates Eye on Housing Student Housing Construction Investment Declines in the Second Quarter of 2024 CNBC Euro zone's economy grew 0.3% in second quarter, above expectations despite German contraction

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