Mortgage Rates Are Actually LOWER This Week

It's Thursday and thus time once again to check in with Freddie Mac's weekly mortgage rate survey versus reality. To be fair, it's not that Freddie isn't participating in reality. It's just not the same version of reality you might prefer if you are in need of more timely updates on rate trends. Freddie logged a big increase over last week, which makes sense considering last week's survey was much lower than it should have been due to Freddie's methodology and timing (we discussed it here: https://www.mortgagenewsdaily.com/markets/mortgage-rates-03152024). This time around, Freddie's survey is averaging the 5 days from last Thursday through yesterday. Today's rate is lower than all of those with the average lender back into the high 6's. NOTE: Freddie also has their rate in the high 6's, but it tends to run much lower than the MND rate because it doesn't include any impact for points or special loan programs. This is one of the many reasons we say the best way to follow a rate index is to observe the CHANGE over time as opposed to outright levels.

March 21, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Are Actually LOWER This Week It's Thursday and thus time once again to check in with Freddie Mac's weekly mortgage rate survey versus reality. To be fair, it's not that Freddie isn't participating in reality. It's just not the same version of reality you might prefer... (read more) MBS Commentary Ho-Hum Post-Fed Trading Day The global trading community digested yesterday's Fed events in a relatively constructive way overnight. Combined with lackluster manufacturing PMIs in Europe, it was enough for a moderate extension of yesterday's rally. The morning ... (read more) Rob Chrisman Mandatory Execution, Accounting, Warehouse, TPO Products; STRATMOR on Comp; Upcoming Events and Training “90 percent of bald people still own a comb; they just can't part with it.” Many companies that retained servicing in 2020 and 2021, complete with low interest rates and borrowers with large amounts of equity & abilities to repay, have made the d... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.96% -0.07% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.96% -0.07 0.00 15 Yr. Fixed 6.50% -0.07 0.00 30 Yr. FHA 6.46% -0.07 0.00 30 Yr. Jumbo 7.34% -0.04 0.00 7/6 SOFR ARM 6.65% -0.07 0.00 30 Yr. VA 6.47% -0.08 0.00 Updates Daily - Last Update: 3/21 15 Yr. Fixed Rate 6.50% -0.07% Rate Change Points Freddie Mac 30 Yr. Fixed 6.87% +0.13 0.00 15 Yr. Fixed 6.21% +0.05 0.00 Updates Weekly - Last Update: 3/21 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.97% +0.13 0.64 15 Yr. Fixed 6.49% +0.12 0.70 30 Yr. Jumbo 7.14% +0.10 0.54 Updates Weekly - Last Update: 3/20 MBS / Treasuries UMBS 30YR 5.5 99.30 +0.05 Price / Yield Change MBS UMBS 5.5 99.30 +0.05 UMBS 6.0 100.80 +0.05 GNMA 5.5 99.63 +0.05 GNMA 6.0 100.69 +0.06 Pricing as of: 3/21 5:31PM EST 10 Year US Treasury 4.2690 -0.0080 Price / Yield Change US Treasury 2 YR Treasury 4.645 +0.041 5 YR Treasury 4.258 +0.010 7 YR Treasury 4.277 +0.002 10 YR Treasury 4.269 -0.008 30 YR Treasury 4.436 -0.019 Pricing as of: 3/21 5:31PM EST Latest Video This week may be the week central banks stepped away from strict inflation ... The Fed will likely start cutting rates in June: BlackRock's Rick Rieder Fed Chair Powell: Rates are unlikely to go back down to pre-pandemic levels Canyon Partners' Josh Friedman: I don't see a reason why the Fed would have... Around the Web redfin Housing Market Update: Supply Climbs 5%, Biggest Increase in Nearly a Year CNBC February home sales spike 9.5%, the largest monthly gain in a year, as supply improves Eye on Housing Existing Home Sales Surge to One-Year High in February CNBC Fed raises GDP projections for 2024 but still sees three rate cuts in coming year Calculated Risk Blog Weekly Initial Unemployment Claims Decrease to 210,000 Calculated Risk Blog BofA "Should policy be set on OER if nobody pays it?" forexlive Comments from Fed's Powell organized by topic CNBC Bank of England holds interest rates at 5.25% CNBC Treasury yields fall as investors digest Fed policy guidance CNBC Fed meeting live updates: Traders await insight from central bank on the outlook for rate cuts Reuters Yields subdued before Fed's economic, interest rate projections CNBC Fed holds rates steady, as expected Calculated Risk Blog AIA: "Moderation in the Slowdown in Business Conditions at Architecture Firms"; Multi-family Billings Decline for 19th Consecutive Month

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