Mortgage Rate Winning Streak Finally Pauses, But Just Barely

Super High Potential Energy Surrounding Tuesday's Data Monday proved to be the quintessential placeholder trading day that it was probably always destined to be. Bonds lost a modest amount of ground early, regained most of it, and then lost it again by the close. All told, it was only a few bps in terms of 10yr yields and thus not worth writing home about. Trading levels have obviously leveled off in a sideways holding pattern ahead of Tuesday's CPI. On that note, it would be difficult to overstate the potential energy for bonds waiting on the other side of 8:30am ET. Granted, there's always a chance that the needle is threaded and little movement ensues, but there's also a chance that it's the most dramatic day for bonds in months, for better or worse. Market Movement Recap09:28 AM Sideways to slightly weaker in uneventful trading. MBS down an eighth. 10yr up half a bp at 4.081 12:14 PM Weaker into the 11am hour, but recovering now. MBS down 6 ticks (.19) and 10yr up 2.3bps at 4.10 03:05 PM Slightly stronger after 1pm TSY auction, but weaker into 3pm close. 10yr up 2.3bps at 4.10. MBS down 5 ticks (.16)

March 11, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Super High Potential Energy Surrounding Tuesday's Data Super High Potential Energy Surrounding Tuesday's Data Monday proved to be the quintessential placeholder trading day that it was probably always destined to be. Bonds lost a modest amount of ground ear... (read more) Mortgage Rate Watch Mortgage Rate Winning Streak Finally Pauses, But Just Barely Mortgage rates hit their best levels in more than a month by the end of last week after moving lower for 4 straight days. If you could only know one thing about today, it's that although rates didn't extend their winning streak, they are still ... (read more) Rob Chrisman Non-QM, DSCR, HELOC, Pre-Approval, Automation Tools; The MBA, CFPB, and White House on Mortgages When I was a teen, I worked a variety of jobs but never at a fast-food joint. No one made much money working at Mickey D’s or Dairy Queen. Now, in California, there’s AB 1228, which replaced the FAST Recovery Act and requires a $20-per-hour minimum w... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.87% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.87% +0.02 0.00 15 Yr. Fixed 6.41% +0.02 0.00 30 Yr. FHA 6.39% +0.01 0.00 30 Yr. Jumbo 7.22% 0.00 0.00 7/6 SOFR ARM 6.54% +0.03 0.00 30 Yr. VA 6.40% 0.00 0.00 Updates Daily - Last Update: 3/11 15 Yr. Fixed Rate 6.41% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.88% -0.06 0.00 15 Yr. Fixed 6.22% -0.04 0.00 Updates Weekly - Last Update: 3/7 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.87% +0.07 0.65 15 Yr. Fixed 6.53% +0.12 0.94 30 Yr. Jumbo 7.00% +0.12 0.39 Updates Weekly - Last Update: 2/14 MBS / Treasuries UMBS 30YR 5.5 99.72 -0.14 Price / Yield Change MBS UMBS 5.5 99.72 -0.14 UMBS 6.0 101.02 -0.08 GNMA 5.5 100.02 -0.13 GNMA 6.0 100.91 -0.08 Pricing as of: 3/11 5:31PM EST 10 Year US Treasury 4.0960 +0.0190 Price / Yield Change US Treasury 2 YR Treasury 4.538 +0.060 5 YR Treasury 4.087 +0.037 7 YR Treasury 4.099 +0.031 10 YR Treasury 4.096 +0.019 30 YR Treasury 4.261 +0.007 Pricing as of: 3/11 5:31PM EST Latest Video Biden's proposed budget would increase federal spending to $7.3T in FY2025 January Data: "Truth or Scare?" Naftali Group CEO on CRE: Conversion cost is too high for many older commer... What strong job growth means for rates Around the Web CNBC A key inflation reading is due out Tuesday morning. Here's what to expect cfpb Junk fees are driving up housing costs. The CFPB wants to hear from you. USA Today HUD Secretary Marcia Fudge to resign, says affordable housing is 'an American issue' CNBC Long-term inflation expectations rise, spelling possible trouble for the Fed, survey shows Marketwatch Treasury yields turn mixed after solid 3-year auction ahead of Tuesday's CPI data Calculated Risk Blog Housing March 11th Weekly Update: Inventory Up 0.4% Week-over-week, Up 21.1% Year-over-year Calculated Risk Blog Lawler: Rent Trends at some Large Holders of Multifamily Properties CNBC 10-year Treasury yield dips as investors consider state of the economy CNBC U.S. job growth totaled 275,000 in February but unemployment rate rises to 3.9% Calculated Risk Blog Comments on February Employment Report Calculated Risk Blog 1st Look at Local Housing Markets in February Calculated Risk Blog GDP Tracking: Low 2% Range Calculated Risk Blog Hotels: Occupancy Rate Decreased 0.3% Year-over-year

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