Another Calm, Slightly Better Day For Rates, But All Bets Are Off Tomorrow

Thursday's Rally Changes Nothing Ahead of Jobs Report While bonds definitely had a logical reaction to this morning's stronger Jobless Claims data at first, a less logical rally followed shortly thereafter. By the time we zoom out and consider the week as a whole, we see a gradual downtrend in yields leading back from Tuesday's highs with brief departures to react to economic reports. In other words, there's a big picture, strategic circling of the wagons ahead of Friday's jobs report. The best thing you could say about it is that it indicates bonds can be receptive to stronger or weaker data. Econ Data / EventsJobless Claims 207k vs 210k f'cast, 205k prev Market Movement Recap08:36 AM sideways to slightly stronger overnight, but losing ground after data. MBS down a quarter point. 10yr up 2.7bps at 4.764. 09:08 AM Decent little recovery. 10yr down 0.4bps at 4.733. MBS down an eighth 03:20 PM Flat near best levels. MBS up 6 ticks (.19) and 10yr down 2.7bps at 4.71

October 5, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary Thursday's Rally Changes Nothing Ahead of Jobs Report Thursday's Rally Changes Nothing Ahead of Jobs Report While bonds definitely had a logical reaction to this morning's stronger Jobless Claims data at first, a less logical rally followed shortly thereafter.&n... (read more) Mortgage Rate Watch Another Calm, Slightly Better Day For Rates, But All Bets Are Off Tomorrow For the first time in nearly a month, the bond market (which dictates day to day mortgage rate movement) managed to string together two winning days in a row. Sure, the outright level of the average 30yr fixed is still the 3rd highest in ... (read more) Rob Chrisman Hedging Cost, Reno, CRA, HELOAN, Home Inspection, Cybersecurity Products; LO Conversation Shift; Ginnie, USDA, FHA News Hal M. writes, “Monday is a holiday. The observance reminded me of the small Italian parade we had in Maine on Columbus Day. All the marchers were under 5 foot 4.” Bah dah bum. Clients come in all shapes and sizes. An experienced loan originator will... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.69% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.69% -0.01 0.00 15 Yr. Fixed 7.01% -0.02 0.00 30 Yr. FHA 7.12% -0.01 0.00 30 Yr. Jumbo 7.74% -0.01 0.00 5/1 ARM 7.06% -0.01 0.00 30 Yr. VA 7.14% -0.01 0.00 Updates Daily - Last Update: 10/5 15 Yr. Fixed Rate 7.01% -0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 7.49% +0.18 0.00 15 Yr. Fixed 6.78% +0.06 0.00 Updates Weekly - Last Update: 10/5 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.41% +0.10 0.71 15 Yr. Fixed 6.73% +0.11 1.17 30 Yr. Jumbo 7.34% +0.02 0.78 Updates Weekly - Last Update: 9/27 MBS / Treasuries UMBS 30YR 6.0 97.98 +0.16 Price / Yield Change MBS UMBS 6.0 97.98 +0.16 GNMA 6.0 98.38 +0.14 Pricing as of: 10/5 5:31PM EST 10 Year US Treasury 4.7210 -0.0160 Price / Yield Change US Treasury 2 YR Treasury 5.020 -0.034 5 YR Treasury 4.682 -0.046 7 YR Treasury 4.727 -0.033 10 YR Treasury 4.721 -0.016 30 YR Treasury 4.891 +0.028 Pricing as of: 10/5 5:31PM EST Latest Video San Francisco Fed President Mary Daly: The need for further Fed tightening ... Homebuilder stocks are one of a few areas that benefit from higher rates, s... The case for a November rate increase is going down, says WSJ's Nick Timira... U.S. jobless claims increase slightly to 207,000 for the week Around the Web MBA What Will the Mortgage Industry Do with Generative AI? Reuters Rise in bond yields builds case for Fed hold, Daly says Black Knight Walden to CNBC: Why Home Prices Keep Rising Despite Falling Demand CNBC U.S. jobless claims increase slightly to 207,000 for the week CNBC More mortgage applications are being rejected for 'insufficient income.' Here's why Calculated Risk Blog Realtor.com Reports Weekly Active Inventory Down 2.6% YoY; New Listings Down 1.2% YoY Marketwatch How rapidly rising Treasury yields are shaking up financial markets — in 5 charts Reuters Fed's Goolsbee Does Not See Rise in Long-Term Yields Imperiling Soft Landing Calculated Risk Blog Trade Deficit decreased to $58.3 Billion in August CNBC Treasury yields little changed as investors consider state of the economy CFR China Isn't Shifting Away from the Dollar or Dollar Bonds Eye on Housing Multifamily Completed in 2022: Primarily Built-For-Rent and High-Density Buildings Calculated Risk Blog ISM Services Index Decreases to 53.6% in September

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