Mortgage Rates Fall to 2 Week Lows After Fed's Friendly Message

Closing Near Week's Best Levels If Friday was going to offer any example of scheduled events causing movement in the bond market, it fell to Powell's Jackson Hole appearance to do the heavy lifting. On that note, everything went off in a logical and fairly ideal way. Powell forcefully confirmed the Fed policy shift despite stopping short of giving any sort of indication on the size of the forthcoming rate cut in September. Bonds rallied instantly upon the release of the Powell's prepared remarks and, in the absence of a Q&A session, that was it for the day. MBS and Treasuries hit their best levels a few moments later and both are heading out the door at almost the exact same levels. Market Movement Recap10:03 AM Very flat overnight and into Powell speech, but gaining ground now. MBS up an eighth and 10yr down 4.7bps at 3.806 01:00 PM Stronger after Powell and flat since then. MBS up 5 ticks (.16) and 10yr down 3.4bps at 3.82 03:38 PM Near the best levels with MBS up 9 ticks (.28) and 10yr down 5.1bps at 3.803

August 23, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Closing Near Week's Best Levels Closing Near Week's Best Levels If Friday was going to offer any example of scheduled events causing movement in the bond market, it fell to Powell's Jackson Hole appearance to do the heavy lifting. On ... (read more) Mortgage Rate Watch Mortgage Rates Fall to 2 Week Lows After Fed's Friendly Message Every year, the Federal Reserve (aka "the Fed") gathers in Jackson Hole, WY with a bevy of other central bankers and academics to discuss and comment on monetary policy in a setting that's slightly less formal than normal. Despite the scenic ba... (read more) Rob Chrisman Staffing Service, Warehouse, Marketing, AI Tools; Shared Appreciation Mortgage; Join an Organization! “There's a fine line between a numerator and a denominator. Only a fraction of people will find this funny.” Our business is a business of numbers. My son Robbie and I were fortunate to spend some time with the MBA’s Chief Economist Mike Fratantoni, ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.44% -0.04% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.44% -0.04 0.00 15 Yr. Fixed 5.97% -0.03 0.00 30 Yr. FHA 5.90% -0.04 0.00 30 Yr. Jumbo 6.66% -0.02 0.00 7/6 SOFR ARM 6.32% -0.06 0.00 30 Yr. VA 5.92% -0.03 0.00 Updates Daily - Last Update: 8/23 15 Yr. Fixed Rate 5.97% -0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.46% -0.03 0.00 15 Yr. Fixed 5.62% -0.04 0.00 Updates Weekly - Last Update: 8/22 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.54% -0.01 0.57 15 Yr. Fixed 5.96% -0.07 0.65 30 Yr. Jumbo 6.78% +0.01 0.37 Updates Weekly - Last Update: 8/14 MBS / Treasuries UMBS 30YR 5.5 100.91 +0.24 Price / Yield Change MBS UMBS 5.5 100.91 +0.24 UMBS 6.0 102.02 +0.22 GNMA 5.5 100.85 +0.24 GNMA 6.0 101.48 +0.10 Pricing as of: 8/23 5:31PM EST 10 Year US Treasury 3.7985 -0.0545 Price / Yield Change US Treasury 2 YR Treasury 3.913 -0.095 5 YR Treasury 3.646 -0.072 7 YR Treasury 3.699 -0.063 10 YR Treasury 3.799 -0.055 30 YR Treasury 4.091 -0.031 Pricing as of: 8/23 5:31PM EST Latest Video Housing market is looking positive going into fall with rate cut expectatio... Fed Chair Powell indicates interest rate cuts ahead: 'The time has come for... Fed Chair Powell gave a 'marvelous' speech at Jackson Hole, says Georgetown... First on CNBC: Chicago Fed President Austan Goolsbee on Fed Chair Jerome Po... Around the Web CNBC Fed Chair Powell indicates interest rate cuts ahead: 'The time has come for policy to adjust' Realtor.com Homebuyers Reveal How Low Mortgage Rates Must Go Before They Buy a House Eye on Housing Surprise Lift for New Home Sales in July CNBC Here's everything to expect from Fed Chair Powell's speech Friday in Jackson Hole CNBC U.S. job growth revised down by the most since 2009. Why this time is different Eye on Housing Second Quarter Multifamily Missing Middle Eye on Housing Construction: 45,000 Fewer Jobs Created than Estimated CNBC July home sales break a four-month losing streak as supply rises nearly 20% over last year CNBC Philadelphia Fed President Harker advocates for interest rate cut in September CNBC Treasury yields rally as Federal Reserve signals readiness for September rate cut Eye on Housing Median Priced Existing Homes Less Affordable Than New Homes in Second Quarter Eye on Housing Multifamily Built-for-Rent Share Remains Elevated CNBC Treasury yields mixed as investors brace for Fed Chair Powells speech at Jackson Hole

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