Mortgage Rates Continue Higher For 2nd Straight Day

Moderate, Inconsequential Weakness Bonds lost ground at a modest to moderate clip on Friday, but not for any interesting or obvious reasons. The selling has been very linear over the past 2 trading days with Treasury yields fitting neatly inside a simple trend channel. There is perhaps some small case to be made for excess weakness in European bonds spilling over the a US bond market that has nothing better to do and no compelling motivations of its own. In the bigger picture, anything that takes place between 10yr yields of 4.34 and 4.50 would be considered very range-bound and that range might not be meaningfully challenged until the first week or two of June. Market Movement Recap09:15 AM Modestly weaker overnight with 10yr up 2.3bps at 4.40 and MBS down 2 ticks in 6.0 coupons 12:48 PM weakest levels of the day with MBS down 6 ticks (.19) and 10yr yield up 3.6bps at 4.413. 03:09 PM Just a bit more weakness, but flatting out now. MBS down just under a quarter point and 10yr up 4.3bps at 4.42

May 17, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Moderate, Inconsequential Weakness Moderate, Inconsequential Weakness Bonds lost ground at a modest to moderate clip on Friday, but not for any interesting or obvious reasons. The selling has been very linear over the past 2 trading days... (read more) Mortgage Rate Watch Mortgage Rates Continue Higher For 2nd Straight Day Mortgage rates have had a great month of May so far with almost every day being a winner up until yesterday and today. Even then, the 2 day losing streak began from the lowest levels in just over 5 weeks. Perhaps more importantly, apart f... (read more) Rob Chrisman Broker Products; Credit, AI Chatbot, Hedging Tools; CFPB Verdict: LO Jobs We’re only a few days away from the MBA’s Capital Markets Conference. Attendees, don’t forget to pick up your badges, or else! (Speaking of interesting clips, watch U.S. Secretary of State Antony J. Blinken launch the Global Music Diplomacy Initiativ... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.09% +0.07% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.09% +0.07 0.00 15 Yr. Fixed 6.56% +0.03 0.00 30 Yr. FHA 6.62% +0.07 0.00 30 Yr. Jumbo 7.35% +0.04 0.00 7/6 SOFR ARM 7.30% +0.06 0.00 30 Yr. VA 6.64% +0.07 0.00 Updates Daily - Last Update: 5/17 15 Yr. Fixed Rate 6.56% +0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 7.02% -0.07 0.00 15 Yr. Fixed 6.28% -0.10 0.00 Updates Weekly - Last Update: 5/16 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.08% -0.10 0.63 15 Yr. Fixed 6.61% +0.01 0.65 30 Yr. Jumbo 7.22% -0.09 0.58 Updates Weekly - Last Update: 5/15 MBS / Treasuries UMBS 30YR 6.0 100.41 -0.13 Price / Yield Change MBS UMBS 6.0 100.41 -0.13 UMBS 6.5 101.80 -0.05 GNMA 6.0 100.77 +0.03 GNMA 6.5 101.60 +0.03 Pricing as of: 5/17 5:31PM EST 10 Year US Treasury 4.4188 +0.0419 Price / Yield Change US Treasury 2 YR Treasury 4.825 +0.027 5 YR Treasury 4.444 +0.048 7 YR Treasury 4.429 +0.046 10 YR Treasury 4.419 +0.042 30 YR Treasury 4.559 +0.053 Pricing as of: 5/17 5:31PM EST Latest Video Former Atlanta Fed President Dennis Lockhart: We might see one or two rate ... Richmond Fed President Tom Barkin: People are still trying to take price on... Wage growth slowing would benefit high rent inflation, says HousingWire's L... Fed doesn't seem open to rate hikes, says Hightower's Michael Farr Around the Web Marketwatch The U.S. economy and inflation might be cooling off, but lower interest rates are still far away CNBC Here's the deflation breakdown for April 2024 in one chart Calculated Risk Blog Early Q2 GDP Tracking: 1.9% to 3.6% Calculated Risk Blog Lawler: Early Read on Existing Home Sales in April & 3rd Look at Local Housing Markets Eye on Housing Slowing Multifamily Building Market Holds Elevated Built-for-Rent Share Calculated Risk Blog MBA: Mortgage Delinquencies Increased Slightly in Q1 2024 CNBC Latest shipping data reveals that mid-range retail is the new consumer price sweet spot Eye on Housing Year-over-Year Gains for Single-Family Built-for-Rent Starts CNBC Treasury yields little changed as investors weigh state of the economy Eye on Housing Higher Interest Rates Keep Single-Family Housing Starts Flat in April Eye on Housing A Strong Quarter for Townhouse Construction Market Watch U.S. industrial output flat in April Calculated Risk Blog Hotels: Occupancy Rate Increased 2.1% Year-over-year

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