Mortgage Rates Casually Drift Back to 2 Month Lows

It was a fairly decent day for mortgage rates with the average lender returning to the lowest levels in just over 2 months. The improvement followed early morning comments from Treasury Secretary Scott Bessent regarding the probable mix of future Treasury debt. What's that got to do with mortgage rates? So much... Mortgage rates are based on mortgage-specific bonds that are in the same extended family as US Treasuries. If Treasuries are like oranges, mortgages are like orange juice--i.e. they're sort of a substitute for some people, but either way, heavily dependent on the price and availability of the former. All that to say that anything that impacts Treasuries in an obvious way also tends to impact mortgage rates. Today's impacts were minimal, but mortgage rates weren't too far from those 2 month lows to begin with. Bigger victories would require a decisive shift toward lower inflation in key economic reports, or toward a markedly weaker economic data in general.

February 20, 2025 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Casually Drift Back to 2 Month Lows It was a fairly decent day for mortgage rates with the average lender returning to the lowest levels in just over 2 months. The improvement followed early morning comments from Treasury Secretary Scott Bessent regarding the probable mix of future Tre... (read more) MBS Commentary Stronger Start. Thank Walmart or Bessent? There's an interesting little case study in this morning's market movement. Bonds had been sideway to very slightly weaker overnight, but began to rally at 7am ET. The most notable market headline available at the time was news of Walmart's dis... (read more) Rob Chrisman FHA Layoff News; Non-Del, SAM, Onboarding, Default Solutions; Training Opportunities; Inflation in the News “Inflation is really getting out of hand... But that's just my 5 cents.” Inflation impacts the prices of fixed-income securities, like the kind backed by mortgages. Inflation takes a while to move, but this week President Donald Trump this week admit... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.96% -0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.96% -0.06 0.00 15 Yr. Fixed 6.41% -0.03 0.00 30 Yr. FHA 6.32% -0.07 0.00 30 Yr. Jumbo 7.30% -0.05 0.00 7/6 SOFR ARM 6.89% -0.05 0.00 30 Yr. VA 6.35% -0.06 0.00 Updates Daily - Last Update: 2/20 15 Yr. Fixed Rate 6.41% -0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.85% -0.02 0.00 15 Yr. Fixed 6.04% -0.05 0.00 Updates Weekly - Last Update: 2/20 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.93% -0.02 0.66 15 Yr. Fixed 6.31% -0.04 0.70 30 Yr. Jumbo 7.03% +0.07 0.53 Updates Weekly - Last Update: 2/19 MBS / Treasuries UMBS 30YR 5.5 99.08 +0.15 Price / Yield Change MBS UMBS 5.5 99.08 +0.15 UMBS 6.0 100.93 +0.10 GNMA 5.5 99.49 +0.10 GNMA 6.0 100.90 +0.02 Pricing as of: 2/20 5:31PM EST 10 Year US Treasury 4.5043 -0.0293 Price / Yield Change US Treasury 2 YR Treasury 4.270 +0.004 5 YR Treasury 4.346 -0.023 7 YR Treasury 4.427 -0.007 10 YR Treasury 4.504 -0.029 30 YR Treasury 4.746 -0.027 Pricing as of: 2/20 5:31PM EST Latest Video Long-term facts for housing look really good, says Tri Pointe Homes CEO Wells Fargo's Vikram Rai on the privatization of Fannie Mae and Freddie Mac Fed's Bostic: Still have two rate cuts built in but forecast uncertainty is... Fed: Trade and immigration cited as "having the potential to hinder disinfl... Around the Web Eye on Housing Families Must Spend 38% of Their Income on Mortgage Payments CNBC Home price growth has slowed. But high costs, economic worries have some buyers retreating CNBC Here's what happens if Fannie Mae and Freddie Mac go private Calculated Risk Blog Weekly Initial Unemployment Claims Increase to 219,000 Eye on Housing Single-Family Built-for-Rent Construction Falls Back CNBC Fed officials are worried about tariffs' impact on inflation and see rate cuts on hold, minutes show CNBC Weekly mortgage demand drops 6%, as homebuyers remain 'on the fence' Calculated Risk Blog California Home Sales Down 1.9% YoY in January; 4th Look at Local Housing Markets CNBC Treasury yields lower as investors await further economic data Calculated Risk Blog Housing Starts Decreased to 1.366 million Annual Rate in January Forex Live Philadelphia Fed Business index for February 18.1 vs 20.0 estimate Calculated Risk Blog LA Ports: Record Inbound Traffic for January Calculated Risk Blog FOMC Minutes: Concern about tariffs, "take time" on any additional Rate Cuts

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