Mixed Performance For Mortgage Rates

Gains Evaporate After Weaker Auction; Sideways Volatility Expected Ahead of CPI CPI, NFP, CPI, Fed Day, NFP, CPI... Maybe throw in some ISM data or the European Central Bank here and there and you'd have a perfectly condensed script for the story of mortgage rate movement over the past few months (ok, maybe for the past year). This week has been an epilogue to last week's NFP (jobs report) with some Fed Day addendums and follow-up courtesy of Powell and several other Fed speakers. Treasury auctions added a bit of volatility with yesterday's 10yr auction helping and today's 30yr bond auction undoing all of those gains and then some. Yields continue failing to break back into the sub 3.62% trading range and we expect more of this frustrating sideways volatility ahead of the next big flashpoint: Tuesday's CPI data. It's hard to imagine anything too consequential happening before then when it comes to things that can be scheduled or predicted. Econ Data / EventsJobless Claims 196k vs 190k f'cast, 183k prev Market Movement Recap10:36 AM Very flat in Asia followed by modest gains in Europe. Now backtracking on some of the gains. MBS down 3 ticks (0.09) on the day. Treasuries still slightly stronger, but up to 3.609 from previous lows of 3.575. 12:21 PM near the day's weakest levels with about half an hour to go before the Treasury auction. MBS down an eighth of a point on the day. 10yr yields down 1bp at 3.605. 01:25 PM Noticeably weaker after the 30yr bond auction. 10yr yields up 3bps at 3.647. MBS down 6 ticks (.19).

February 9, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary Gains Evaporate After Weaker Auction; Sideways Volatility Expected Ahead of CPI Gains Evaporate After Weaker Auction; Sideways Volatility Expected Ahead of CPI CPI, NFP, CPI, Fed Day, NFP, CPI... Maybe throw in some ISM data or the European Central Bank here and there and you'd hav... (read more) Mortgage Rate Watch Mixed Performance For Mortgage Rates In general, this has been a week of correction and reversal for mortgage rates. After hitting the lowest levels in more than 4 months last week, they popped quickly back to the highest levels in a month by Tuesday. Things have calmed down... (read more) Rob Chrisman Automation, Collections, DPA, Insurance, Capital Markets Products; STRATMOR Survey; Events and Webinars As noted in yesterday’s commentary, mergers and acquisitions of lenders are in the news across the nation. For curious lenders, it is good to have a general guide in how a buyer goes about valuing a lender. I happen to be in rainy Chicago now, but 1,... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.45% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.45% +0.03 0.00 15 Yr. Fixed 5.50% -0.02 0.00 30 Yr. FHA 5.82% -0.05 0.00 30 Yr. Jumbo 6.00% 0.00 0.00 5/1 ARM 6.65% 0.00 0.00 30 Yr. VA 5.88% -0.03 0.00 Updates Daily - Last Update: 2/9 15 Yr. Fixed Rate 5.50% -0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.12% +0.03 0.00 15 Yr. Fixed 5.25% +0.11 0.00 Updates Weekly - Last Update: 2/9 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.18% -0.01 0.64 15 Yr. Fixed 5.64% +0.14 0.63 30 Yr. Jumbo 5.96% -0.03 0.55 Updates Weekly - Last Update: 2/8 MBS / Treasuries UMBS 30YR 5.0 99.41 -0.39 Price / Yield Change MBS UMBS 5.0 99.41 -0.39 UMBS 5.5 100.72 -0.33 GNMA 5.0 100.06 -0.23 GNMA 5.5 100.94 -0.20 Pricing as of: 2/9 5:31PM EST 10 Year US Treasury 3.6617 +0.0463 Price / Yield Change US Treasury 2 YR Treasury 4.484 +0.055 5 YR Treasury 3.862 +0.072 7 YR Treasury 3.783 +0.068 10 YR Treasury 3.662 +0.046 30 YR Treasury 3.729 +0.057 Pricing as of: 2/9 5:31PM EST Latest Video Initial jobless claims come in higher than expectations Fed Chair Powell: There will be more rate increases to get to our 2 percent... Wholesale inventories for December rose by 0.1% Markets give Powell's Economic Club speech a split decision Around the Web reuters Fed's foot 'unequivocally' on brake, sensible to move slower, Barkin says Wall Street Journal Mass Layoffs or Hiring Boom? What's Actually Happening in the Jobs Market Calculated Risk Blog Weekly Initial Unemployment Claims increase to 196,000 Calculated Risk Blog Hotels: Occupancy Rate Down 7.3% Compared to Same Week in 2019 CNBC These 10 metro areas are the most 'rent-burdened' in the U.S. New York City comes in at No. 1 CNBC Fed Governor Christopher Waller warns that interest rates could go higher than expectations CNBC Treasury yields dip as investors digest Fed speaker comments Eye on Housing Growth of Revolving Debt Slows, Auto Loan Rates Spike in Q4 2022 reuters Fed's Williams: Future Fed rate cuts more about adjusting to lower inflation Calculated Risk Blog 1st Look at Local Housing Markets in January CNBC Bank of England Governor Bailey says expected drop in inflation should factor into pay demands reuters Fed's Cook: January job gains increase hopes for soft landing CNBC European markets head for higher open as investors weigh up economic outlook

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