What Might a Fed Rate Cut do For Mortgage Rates?

What Matters in Wednesday's Fed Announcement? The ongoing disagreement in the market regarding the size of Wednesday's Fed rate cut makes it a very interesting Fed meeting. That said, the size of the cut at this meeting probably has less to do with the market reaction than the dot plot landscape (i.e. the changes in each Fed member's rate outlook as communicated in the Summary of Economic Projections). Powell's 2:30pm press conference will also add clarity. As always "volatility" does not have a directional connotation. Things could go either way, and may do so several times before finally picking a side. Econ Data / EventsRetail Sales 0.1 vs -0.2 f'cast, 1.0 prev Industrial Production0.8 vs 0.2 f'cast, -0.9 prev NAHB Builder Confidence41 vs 40 f'cast, 39 prev Market Movement Recap11:06 AM Generally weaker after Retail Sales and Industrial Production. MBS down an eighth and 10yr up 1.9bps at 3.638. 01:45 PM sideways at weaker levels. MBS still down an eighth and 10yr up 2.7bps at 3.646 03:15 PM Bonds not looking like they want to sell anymore today. MBS down 3 ticks (.09) and 10yr up 2bps at 3.639

September 17, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary What Matters in Wednesday's Fed Announcement? What Matters in Wednesday's Fed Announcement? The ongoing disagreement in the market regarding the size of Wednesday's Fed rate cut makes it a very interesting Fed meeting. That said, the size of the cu... (read more) Mortgage Rate Watch What Might a Fed Rate Cut do For Mortgage Rates? Mortgage rates have fallen nearly 2% from last year's peak. Much of that decrease can be viewed as the normal phenomenon of longer term rates getting in position for changes in short term rates. The point we're about to make is that mortg... (read more) Rob Chrisman DPA, Shared Appreciation, Loss Mit, Insurance, Subservicer Oversight Products; Conforming Loan Limit Changes Does it give you a sense of permanency if you think about how you’re looking at the same moon as pirates did 300-400 years ago? There’s a lunar eclipse across North American tonight, and Talk Like a Pirate Day is Thursday, both in the same week! But,... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.11% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.11% -0.01 0.00 15 Yr. Fixed 5.63% 0.00 0.00 30 Yr. FHA 5.65% -0.01 0.00 30 Yr. Jumbo 6.38% 0.00 0.00 7/6 SOFR ARM 6.12% +0.01 0.00 30 Yr. VA 5.66% -0.02 0.00 Updates Daily - Last Update: 9/17 15 Yr. Fixed Rate 5.63% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.20% -0.15 0.00 15 Yr. Fixed 5.27% -0.20 0.00 Updates Weekly - Last Update: 9/12 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.44% -0.06 0.54 15 Yr. Fixed 5.88% -0.16 0.68 30 Yr. Jumbo 6.75% +0.07 0.39 Updates Weekly - Last Update: 8/28 MBS / Treasuries UMBS 30YR 5.0 100.45 -0.14 Price / Yield Change MBS UMBS 5.0 100.45 -0.14 UMBS 5.5 101.52 -0.09 GNMA 5.0 100.45 -0.13 GNMA 5.5 101.28 -0.01 Pricing as of: 9/17 5:31PM EST 10 Year US Treasury 3.6433 +0.0243 Price / Yield Change US Treasury 2 YR Treasury 3.598 +0.045 5 YR Treasury 3.436 +0.033 7 YR Treasury 3.529 +0.028 10 YR Treasury 3.643 +0.024 30 YR Treasury 3.956 +0.026 Pricing as of: 9/17 5:31PM EST Latest Video Rate cut is already baked into mortgage rates, says Rocket Companies CEO Va... Fed has 'nothing to lose' with 50 bp cut, says Wolfe Research's Stephanie R... The path ahead for rate cuts CNBC Fed Survey: Respondents see soft landing despite weaker economic outlo... Around the Web WSJ Fed Prepares to Lower Rates, With Size of First Cut in Doubt forexlive Goldman Sachs: What we expect from the September FOMC on Wednesday CNBC Fed to cut rates by a quarter point with a soft landing expected, according to CNBC Fed Survey Calculated Risk Blog Lawler: Early Read on Existing Home Sales in August Eye on Housing Builder Sentiment Rises as Rates Fall but Affordability Challenges Persist Marketwatch U.S. retail sales taper off in August, but still point to stable economy Marketwatch The Fed, explained: What it's trying to do and why it matters to you Calculated Risk Blog Part 2: Current State of the Housing Market; Overview for mid-September 2024 Calculated Risk Blog Q2 Update: Delinquencies, Foreclosures and REO CNBC Prices are easing, but wages still laghere's when they're likely to catch up CNBC Treasury yields little changed as Fed meeting set to kick off Marketwatch Industrial production gets short-live boost from autos, but U.S. manufacturers still depressed Eye on Housing Apartment Construction Time Averaged 20 Months in 2023

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