Mortgage Rates Jump Higher

Mortgage rates are noticeably higher to start the new week for most lenders although some lenders increased their costs nearly as much on Friday. Between the two business days (banks were closed on Monday), the average lender is up between 0.125% and 0.25% from Thursday afternoon. Rates are sometimes pushed higher by big, obvious events and economic reports. Other times, the motivations are more subtle, elusive, and even non-existent. Today's motivations were definitely not obvious at first glance. Even now, it's sort of like finding forensic evidence to piece together a mysterious crime. We have a few good leads, but nothing conclusive and satisfying. The best leads have to do with arcane bond market happenings such as corporate bond issuance (big corporations issuing bonds which sap some of the buying demand from other bonds, thus pushing rates higher across the board) among other things. Tomorrow should be different as there is important economic data due out at 10am ET.

September 5, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Jump Higher Mortgage rates are noticeably higher to start the new week for most lenders although some lenders increased their costs nearly as much on Friday. Between the two business days (banks were closed on Monday), the average lender is up between 0.12... (read more) MBS Commentary New Week Starts Weaker After a frustrating selling spree last Friday, bonds are starting the new week with a bit more selling. Much like Friday, justifications are not as satisfying and obvious as many market watchers may hope. That said, things are a bit more ... (read more) Rob Chrisman QC/Fraud, LO AI, MSR Financing, GNMA Programs; Disaster Updates and Guides - The CFPB is There for Us It was a rough weekend. My cat Myrtle, resting comfortably at the top of the food chain, was visibly miffed at me not nominating her (again) for the vaulted “40 under 40” award. I reminded her that she is way over that in cat years, but my explanatio... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.21% +0.13% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.21% +0.13 0.00 15 Yr. Fixed 6.58% +0.13 0.00 30 Yr. FHA 6.78% +0.10 0.00 30 Yr. Jumbo 7.30% +0.05 0.00 5/1 ARM 7.00% +0.03 0.00 30 Yr. VA 6.77% +0.11 0.00 Updates Daily - Last Update: 9/5 15 Yr. Fixed Rate 6.58% +0.13% Rate Change Points Freddie Mac 30 Yr. Fixed 7.18% -0.05 0.00 15 Yr. Fixed 6.55% 0.00 0.00 Updates Weekly - Last Update: 8/31 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.16% +0.07 0.68 15 Yr. Fixed 6.57% +0.06 0.94 30 Yr. Jumbo 7.11% +0.07 0.55 Updates Weekly - Last Update: 8/16 MBS / Treasuries UMBS 30YR 5.5 98.13 -0.50 Price / Yield Change MBS UMBS 5.5 98.13 -0.50 UMBS 6.0 99.75 -0.42 GNMA 5.5 98.47 -0.45 GNMA 6.0 99.94 -0.34 Pricing as of: 9/5 5:31PM EST 10 Year US Treasury 4.2710 +0.0900 Price / Yield Change US Treasury 2 YR Treasury 4.959 +0.083 5 YR Treasury 4.380 +0.084 7 YR Treasury 4.352 +0.086 10 YR Treasury 4.271 +0.090 30 YR Treasury 4.381 +0.085 Pricing as of: 9/5 5:31PM EST Latest Video Homeowners ditching home insurance over rising premiums Fed Governor Christopher Waller: Job market is beginning to soften The Fed doesn't expect to cut rates as rapidly as it hiked them, says KPMG'... The Fed will prove it's done enough by the November meeting, says BNP's Car... Around the Web CNBC Mortgage rate tipping point: Homeowners say roughly 5% is the magic number to move CNBC Fed Governor Waller agrees the central bank can 'proceed carefully' on interest rates Calculated Risk Blog Lawler: Single Family Rent Trends at AMH and Invitation Homes CNBC U.S. Treasury yields rise as investors weigh economic outlook CNBC Home prices may be on the verge of cooling off Calculated Risk Blog Heavy Truck Sales Solid in August, Up 2% YoY Marketwatch Treasury yields turn mostly higher after inflation comments by Fed's Mester CNBC European markets head for lower open as sentiment sours slightly Calculated Risk Blog Freddie Mac House Price Index Increased in July to New High; Black Knight Index Hits New High, but "Mixed signals" CNBC Home prices may be on the verge of cooling off Eye on Housing Large Metro Markets Show Biggest Slowdown in Single-Family Construction Eye on Housing July Gains in Private Residential Construction Spending CNBC Mortgage rate tipping point: Homeowners say roughly 5% is the magic number to move

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