Modest Recovery For Mortgage Rates

After one of the best 3-day winning streaks in decades last week, mortgage rates jumped a bit to start the new week. That jump turned out to be a temporary correction as Tuesday brought a mild recovery. Rates are determined by trading levels in the bond market and bonds take cues from many sources. On many trading days, the initial tone is set by overseas trading that takes place overnight. That was the case today as weak economic data in Europe put downward pressure on rates globally. During domestic hours, things didn't change much. Agreeable comments from Fed speakers allowed bonds to hold the overnight gains. At 1pm ET, strong demand at the 3yr Treasury auction helped bonds improve a bit more. The average mortgage lender was able to offer rates that were slightly better than Monday's, but still not as low as Friday's.

November 7, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Modest Recovery For Mortgage Rates After one of the best 3-day winning streaks in decades last week, mortgage rates jumped a bit to start the new week. That jump turned out to be a temporary correction as Tuesday brought a mild recovery. Rates are determined by trad... (read more) MBS Commentary Super Sideways Thanks to Europe Every now and then European markets do favors for the US bond market narrative. They can also detract, but today is not one of those days. Weaker overseas economic data led to overnight gains in EU bonds. Those gains spilled over to... (read more) Rob Chrisman Rental, Renovation, Fee Collection, Subservicing, Verification Tools; Training and Events Yes, WeWork has filed for bankruptcy, but if you look at GDP and employment, our economy is doing pretty well. Did you know that the Dallas metro area is home to the headquarters of companies responsible for originating 78 percent of residential volu... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.46% -0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.46% -0.02 0.00 15 Yr. Fixed 6.85% -0.01 0.00 30 Yr. FHA 6.82% -0.02 0.00 30 Yr. Jumbo 7.82% -0.01 0.00 5/1 ARM 7.19% +0.02 0.00 30 Yr. VA 6.83% -0.02 0.00 Updates Daily - Last Update: 11/7 15 Yr. Fixed Rate 6.85% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 7.76% -0.03 0.00 15 Yr. Fixed 7.03% 0.00 0.00 Updates Weekly - Last Update: 11/2 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.86% -0.04 0.73 15 Yr. Fixed 7.14% +0.06 1.22 30 Yr. Jumbo 7.80% +0.02 0.67 Updates Weekly - Last Update: 11/1 MBS / Treasuries UMBS 30YR 6.0 99.00 +0.27 Price / Yield Change MBS UMBS 6.0 99.00 +0.27 UMBS 6.5 100.67 +0.17 GNMA 6.0 99.47 +0.17 GNMA 6.5 100.73 +0.09 Pricing as of: 11/7 5:31PM EST 10 Year US Treasury 4.5710 -0.0760 Price / Yield Change US Treasury 2 YR Treasury 4.913 -0.028 5 YR Treasury 4.535 -0.058 7 YR Treasury 4.578 -0.067 10 YR Treasury 4.571 -0.076 30 YR Treasury 4.732 -0.083 Pricing as of: 11/7 5:31PM EST Latest Video Compass CEO: Not enough real estate inventory in the overall market Low inventory trumps rates in today's housing environment, says KBW's Jade ... Chicago Fed President: 'Golden path' of bringing inflation down without a r... NY Fed: Household debt sees modest 1.3% increase in Q3 Around the Web Calculated Risk Blog 1st Look at Local Housing Markets in October; Early Reporting Markets suggest some month-to-month increase in Sales in October, SAAR Calculated Risk Blog NY Fed Q3 Report: Household Debt Increased CNBC Central banks look to have hit peak rates. Here's how markets think they'll come down CNBC Credit card balances spiked in the third quarter to a $1.08 trillion record. Here's how we got here Calculated Risk Blog Wholesale Used Car Prices Decreased 2.3% in October; Down 4.0% Year-over-year Manheim Inflation Anecdotes: Wholesale Used-Vehicle Prices Decrease in October Calculated Risk Blog ICE (Black Knight) Mortgage Monitor: "Its fair to expect prices to weaken later in 2023" CNBC Feds Goolsbee says 'golden path' of a huge drop in inflation without a recession is still possible Calculated Risk Fed Senior Loan Officer Survey: Banks reported Tighter Standards, Weaker Demand for All Loan Types CNBC 10-year Treasury yield falls as investors consider state of U.S. economy Calculated Risk Blog Housing November 6th Weekly Update: Inventory Still Increasing, Up 0.8% Week-over-week Eye on Housing Type of Parking Facility of New Single-Family Houses Completed: 2022 Data CNBC European markets head for lower open as positive momentum stalls

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