A Refreshingly Boring Week For Mortgage Rates

Getting Back to Normal, For a Few Days Anyway After a decidedly abnormal 6 weeks beginning in early October, bonds began to calm down last week. This offered some hope that the brisk volatility and selling pressure was subsiding. With 10yr yields closing inside a 3bp range for 5 days in a row, the restoration of normality is basically confirmed. Today's data didn't have a big impact, but we wouldn't expect it to (based on the mixed signals). Bonds continue waiting on early December data for the next big push in one direction or the other. The upcoming week is always a bit of a wild card due to the holiday and month-end, but the fact remains that there are no truly top tier market movers. Econ Data / EventsS&P Services PMI 57.0 vs 55.2 f'cast, 55.0 prev Consumer Sentiment71.8 vs 73.7 f'cast, 70.5 prev 1yr inflation expectations unchanged Market Movement Recap11:29 AM stronger overnight and steadily weaker during domestic hours. MBS unchanged and 10yr down 1.1bps at 4.409 01:39 PM Little changed from last update. MBS up 2 ticks (.06) and 10yr down 0.9bps at 4.412 03:58 PM Super sideways, all day, but a bit stronger for MBS, now up an eighth of a point. 10yr down half a bp at 4.417.

November 22, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Getting Back to Normal, For a Few Days Anyway Getting Back to Normal, For a Few Days Anyway After a decidedly abnormal 6 weeks beginning in early October, bonds began to calm down last week. This offered some hope that the brisk volatility and sell... (read more) Mortgage Rate Watch A Refreshingly Boring Week For Mortgage Rates Starting in early October, mortgage rates experienced significant volatility, meaning the average day over day change was much bigger than normal. While the term "volatility" technically allows for larger-than-normal moves in either direction, ... (read more) Rob Chrisman eRESI Capital Infusion, Warehouse Mgt. Tool; Fannie's Forecast and Freddie's Repurchase Alternative Want a house for a dollar? Italy has them… figure out the impact on comps for appraisals! To the best of my knowledge, my cat Myrtle never lived in Italy before she was adopted, or even traveled there. Plenty of people will be traveling places during... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.03% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.03% -0.01 0.00 15 Yr. Fixed 6.40% -0.01 0.00 30 Yr. FHA 6.45% 0.00 0.00 30 Yr. Jumbo 7.22% 0.00 0.00 7/6 SOFR ARM 7.04% -0.01 0.00 30 Yr. VA 6.47% +0.02 0.00 Updates Daily - Last Update: 11/22 15 Yr. Fixed Rate 6.40% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.84% +0.06 0.00 15 Yr. Fixed 6.02% +0.03 0.00 Updates Weekly - Last Update: 11/21 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 99.00 +0.12 Price / Yield Change MBS UMBS 5.5 99.00 +0.12 UMBS 6.0 100.65 +0.12 GNMA 5.5 99.50 +0.12 GNMA 6.0 100.69 +0.04 Pricing as of: 11/22 5:31PM EST 10 Year US Treasury 4.4130 -0.0078 Price / Yield Change US Treasury 2 YR Treasury 4.378 +0.030 5 YR Treasury 4.306 +0.004 7 YR Treasury 4.347 -0.008 10 YR Treasury 4.413 -0.008 30 YR Treasury 4.597 -0.004 Pricing as of: 11/22 5:31PM EST Latest Video Rents likely to come down in 2025, says Redfin CEO Glenn Kelman The read on retail ahead of Black Friday Consumer sentiment data is warm Flash PMI readings for services and manufacturing rise in November Around the Web Calculated Risk Blog Preliminary 2025 Housing Forecasts Calculated Risk Blog How many people work for the U.S. federal government? Federal Reserve FEDS Paper: Locked In: Rate Hikes, Housing Markets, andMobility Eye on Housing Families Must Spend 38% of Their Income on House Payments CNBC Treasury yields fall as investors weigh state of U.S. economy CNBC Home sales surged in October, just before mortgage rates jumped Calculated Risk Blog ICE: Mortgage Delinquency Rate Increased Year-over-year in October Calculated Risk Blog Q4 GDP Tracking: Mid 2% Range Marketwatch Jobless claims drop to seven-month low as the U.S. economy plows ahead CNBC 10-year Treasury yield dips as investors await economic data, Fed speeches Marketwatch Philadelphia Fed's manufacturing gauge shows activity contracted in November Eye on Housing Flat Conditions for Custom Home Building Fannie Mae Recent Rate Run-Up Expected to Keep Existing Home Sales Near Historic Lows Through 2025

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