Mortgage Rates Jump to Highest Levels of The Week

While there was never much of a chance of mortgage rates moving above the levels seen at the beginning of last week, they were easily able to nab the dubious distinction of hitting this week's highest levels today. This is the least surprising thing imaginable after looking at this week's chart of mortgage-backed securities prices. As the caption advises, the lower the line, the higher the implication for mortgage rates. The weakness was already in the works as of yesterday afternoon, but the market deteriorated further overnight and in the early morning hours for reasons that are esoteric as they are inconsequential. In the bigger picture, apart from the past 5 days, we're still at the lowest levels in 6 months and we're still waiting for only a few key economic reports to set the tone for rates going forward.

July 19, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Jump to Highest Levels of The Week While there was never much of a chance of mortgage rates moving above the levels seen at the beginning of last week, they were easily able to nab the dubious distinction of hitting this week's highest levels today. This is the least surprising thing ... (read more) MBS Commentary Lower Volume And Corporate Bond Issuance Pushing Yields Higher This week's bond rally hit a wall at the 3pm close on Wednesday. There's been gradual upward pressure since then with today's overnight session seeing some of the fastest selling. The counterpoint is that the selling is only fast rel... (read more) Rob Chrisman VOE, Home Equity, MERS Audit Products, Builder Applications I get asked if I think our industry puts too much emphasis on what the Federal Reserve is doing, and its being able to control inflation. In a word, my answer is yes. The Fed has a hand in inflation, but it isn’t the whole story. A President cuts off... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.89% +0.08% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.89% +0.08 0.00 15 Yr. Fixed 6.32% +0.02 0.00 30 Yr. FHA 6.32% +0.04 0.00 30 Yr. Jumbo 7.05% +0.02 0.00 7/6 SOFR ARM 6.58% -0.01 0.00 30 Yr. VA 6.34% +0.04 0.00 Updates Daily - Last Update: 7/19 15 Yr. Fixed Rate 6.32% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.12 0.00 15 Yr. Fixed 6.05% -0.12 0.00 Updates Weekly - Last Update: 7/18 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.00% -0.03 0.60 15 Yr. Fixed 6.63% +0.07 0.61 30 Yr. Jumbo 7.13% +0.02 0.38 Updates Weekly - Last Update: 7/10 MBS / Treasuries UMBS 30YR 5.5 99.38 -0.18 Price / Yield Change MBS UMBS 5.5 99.38 -0.18 UMBS 6.0 100.85 -0.12 GNMA 5.5 99.72 -0.10 GNMA 6.0 100.67 -0.07 Pricing as of: 7/19 5:31PM EST 10 Year US Treasury 4.2384 +0.0368 Price / Yield Change US Treasury 2 YR Treasury 4.513 +0.038 5 YR Treasury 4.167 +0.047 7 YR Treasury 4.183 +0.044 10 YR Treasury 4.238 +0.037 30 YR Treasury 4.448 +0.029 Pricing as of: 7/19 5:31PM EST Latest Video Former Atlanta Fed President Dennis Lockhart: A September rate cut is on th... CrowdStrike update causes global business outage Fed is likely to start cutting rates in September, says Citi's Nathan Sheet... A September rate cut right now seems like the more likely outcome, says Rog... Around the Web Calculated Risk Blog Lawler: Early Read on Existing Home Sales in June CNBC Treasury yields rise as investors weigh rate outlook Eye on Housing Remodeling Market Sentiment Holds Steady in Second Quarter Calculated Risk Blog Realtor.com Reports Active Inventory Up 35.8% YoY Calculated Risk Blog California Home Sales Down 3% SA YoY in June; 4th Look at Local Housing Markets in June CNBC Watch: ECB President Christine Lagarde speaks after rate decision Calculated Risk Blog Weekly Initial Unemployment Claims Increase to 243,000 Eye on Housing Top Ten Builder Share Declines in 2023 Calculated Risk Blog Q2 GDP Tracking: Mid-2% Marketwatch 5 of 12 Fed districts report flat or declining economic activity, Feds Beige Book finds CNBC Treasury yields tick higher as markets digest comments by Fed officials Calculated Risk Blog LA Port Traffic Increased Year-over-year in June CNBC U.S. oil holds to gains after three weeks of crude inventory declines

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