Mortgage Rates Inch to New 1-Month Lows

Last Thursday, mortgage rates merely had to hold steady in order to hit 1-month lows. In other words, Wednesday's rates were low enough to earn that distinction, but it technically hadn't been a full month since rates were decisively lower. All that to say, not much has changed since last week when it comes to mortgage rates, but with today's levels being just microscopically better than last week's, we're technically at 1-month lows yet again. The underlying market movement was calm and boring today. That is increasingly likely to change in the coming days due to incredibly important economic data on each of the next two mornings. In other words, whereas it was safer to expect small changes and sideways momentum over the past 5-6 days, it would be a surprise to see things stay flat by Wednesday. The only catch is that no one knows which direction rates will move when they (probably) have something other than a flat, boring day in the next two days.

May 13, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Inch to New 1-Month Lows Last Thursday, mortgage rates merely had to hold steady in order to hit 1-month lows. In other words, Wednesday's rates were low enough to earn that distinction, but it technically hadn't been a full month since rates were decisively lower.&nbs... (read more) MBS Commentary High Stakes Week With CPI and Retail Sales on Wednesday In 2023 and especially 2024, the first bullet point in the bond market's job description is to focus on Core CPI above all other economic reports. In fact, it's not uncommon for a big CPI reaction to set the tone with traders largely waiting fo... (read more) Rob Chrisman Company Webinars; POS, Non-Agency Products; STRATMOR and Customer Service; Freddie and Fannie News Ahead of the upcoming MBA conference in Manhattan, as a reminder, we have five senses. All of them are important, with perhaps smell being the most under-rated. Hotel chains are very cognizant of this, and here’s how hotels smell their best. It is al... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.12% -0.04% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.12% -0.04 0.00 15 Yr. Fixed 6.62% -0.02 0.00 30 Yr. FHA 6.59% -0.03 0.00 30 Yr. Jumbo 7.37% -0.03 0.00 7/6 SOFR ARM 7.30% -0.03 0.00 30 Yr. VA 6.60% -0.04 0.00 Updates Daily - Last Update: 5/13 15 Yr. Fixed Rate 6.62% -0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 7.09% -0.13 0.00 15 Yr. Fixed 6.38% -0.09 0.00 Updates Weekly - Last Update: 5/9 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.24% +0.11 0.66 15 Yr. Fixed 6.75% +0.11 0.64 30 Yr. Jumbo 7.45% +0.05 0.56 Updates Weekly - Last Update: 4/24 MBS / Treasuries UMBS 30YR 6.0 100.15 +0.07 Price / Yield Change MBS UMBS 6.0 100.15 +0.07 UMBS 6.5 101.59 -0.01 GNMA 6.0 101.00 -0.02 GNMA 6.5 101.69 0.00 Pricing as of: 5/13 5:31PM EST 10 Year US Treasury 4.4855 -0.0123 Price / Yield Change US Treasury 2 YR Treasury 4.861 -0.004 5 YR Treasury 4.505 -0.010 7 YR Treasury 4.494 -0.010 10 YR Treasury 4.486 -0.012 30 YR Treasury 4.629 -0.011 Pricing as of: 5/13 5:31PM EST Latest Video Consumers are feeling the pressure of inflation as household delinquencies ... Evercore founder Roger Altman: This inflation was caused entirely by the pa... Former Boston Fed Pres. Rosengren: Biden's fiscal policies have contributed... NY Fed: One-year inflation expectations rise Around the Web CNBC Inflation outlook rises, fueled by expected increases for housing costs, New York Fed survey shows CNBC Homes are more expensive than everhere's how much prices have skyrocketed since 1965 Calculated Risk Blog 2nd Look at Local Housing Markets in April Marketwatch Fed's Jefferson says slowing progress on inflation is 'a source of concern' Eye on Housing Top Compromises Buyers Will Make to Reach Homeownership Calculated Risk Blog Housing May 13th Weekly Update: Inventory up 1.6% Week-over-week, Up 35.0% Year-over-year Calculated Risk Blog Heavy Truck Sales Increased in April CNBC Treasury yields dip as investors look to key data in week ahead Calculated Risk Blog Part 1: Current State of the Housing Market; Overview for mid-May 2024 Eye on Housing Credit for Builders Tightens Slightly, Remains Costly CNBC Consumer sentiment tumbles as inflation fears surge, closely watched survey shows Eye on Housing High Interest Rates, Construction Costs Are Serious Impediments for New Multifamily Development Calculated Risk Blog Q2 GDP Tracking: 3%+

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