Mortgage Rates Much Calmer Today

Technical Breakout in Treasuries. Does it Matter? Bonds began the day in much weaker territory as Treasuries followed European yields higher after a series of stronger PMIs overnight. Domestic traders added to the weakness early with 10yr yields hitting their highest levels since November. Bonds found their footing after an as-expected JOLTS report and MBS even made it all the way back to "unchanged" just before 3pm. Nevertheless, 10yr yields had broken their recent 4.32% ceiling. As always technical levels don't predict the future. This breakout reinforces the headwinds of the past few weeks and acknowledges the risks associated with the incoming data. If that data is friendly, this will not look like an important technical breakout in hindsight. But the opposite is also true: stronger data would make this breakout look like ominous foreshadowing. Econ Data / EventsJob Openings8.756m vs 8.75m f'cast, 8.748m prev Market Movement Recap08:52 AM 10yr yields up 7.8bps at 4.394. MBS are down just over a quarter of a point. 11:12 AM Pushing back after uneventful JOLTS. MBS down only an eighth. 10yr up 4.5bps at 4.361. 01:51 PM Sideways to slightly stronger. MBS down only 2 ticks (.06) and 10yr up 4.3bps at 4.359 02:30 PM MBS turn green, now up 1 tick (.03). 10yr still up 4.4bs at 4.36, but 5yr Treasury now unchanged as well.

April 2, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Technical Breakout in Treasuries. Does it Matter? Technical Breakout in Treasuries. Does it Matter? Bonds began the day in much weaker territory as Treasuries followed European yields higher after a series of stronger PMIs overnight. Domestic traders added t... (read more) Mortgage Rate Watch Mortgage Rates Much Calmer Today After starting the week with a fairly large jump, mortgage rates had a much calmer day on Tuesday. This was made all the more impressive by the fact that the underlying bond market suggested another increase earlier this morning. To be fair, t... (read more) Rob Chrisman Recruiting, Loan Trading, TPO, Compliance Tools; FHA and USDA News; Fed Cuts Wanted, but Not Needed? “I think it’s disgraceful that after 55 years, people don’t know who Neil Armstrong was… or even the type of trumpet he played.” Time flies. Did you know that Freddie Mac and Fannie Mae have their driver’s permits? I am kidding about the permit, but ... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.06% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.06% +0.01 0.00 15 Yr. Fixed 6.50% 0.00 0.00 30 Yr. FHA 6.47% +0.01 0.00 30 Yr. Jumbo 7.35% 0.00 0.00 7/6 SOFR ARM 6.75% +0.01 0.00 30 Yr. VA 6.50% +0.01 0.00 Updates Daily - Last Update: 4/2 15 Yr. Fixed Rate 6.50% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.79% -0.08 0.00 15 Yr. Fixed 6.11% -0.10 0.00 Updates Weekly - Last Update: 3/28 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.93% -0.04 0.60 15 Yr. Fixed 6.46% -0.03 0.75 30 Yr. Jumbo 7.14% 0.00 0.38 Updates Weekly - Last Update: 3/27 MBS / Treasuries UMBS 30YR 5.5 99.04 -0.01 Price / Yield Change MBS UMBS 5.5 99.04 -0.01 UMBS 6.0 100.70 +0.10 GNMA 5.5 99.59 +0.08 GNMA 6.0 100.78 +0.14 Pricing as of: 4/2 5:31PM EST 10 Year US Treasury 4.3536 +0.0379 Price / Yield Change US Treasury 2 YR Treasury 4.693 -0.010 5 YR Treasury 4.344 -0.013 7 YR Treasury 4.358 +0.040 10 YR Treasury 4.354 +0.038 30 YR Treasury 4.496 +0.048 Pricing as of: 4/2 5:31PM EST Latest Video Fed's Daly: No urgency to adjust the rate Home prices rose 5.5% in February compared with same month a year earlier: ... Cleveland Fed President Loretta Mester: Substantial progress has been made ... Job openings held steady in February Around the Web Marketwatch Reflation trade may put 10-year Treasury yield on path back to 4.5%-5% Marketwatch Daly says there's 'no urgency' for the Fed to cut U.S. interest rates Marketwatch Job openings stay at 8.8 million. Labor market still plenty robust. Calculated Risk Blog ICE Mortgage Monitor: The Impact of "Golden-Handcuffs" on Mortgage Payments CNBC Here's what upgrading to a nicer home could cost you, and why it's locking up the market Calculated Risk Blog CoreLogic: US Home Prices Increased 5.5% Year-over-year in February Marketwatch Fears over persistent inflation resurface in U.S. Treasury market, ushering in volatility Market Watch Benchmark Treasury yield holds near four-month high after stronger U.S. economic data CNBC Fed's Mester still expects rate cuts this year, but rules out May Market Watch Manufacturers show sign of revival as ISM index turns positive for first time in 17 months Calculated Risk Blog Freddie Mac House Price Index Increased in February; Up 5.9% Year-over-year Calculated Risk Blog Construction Spending Decreased 0.3% in February Eye on Housing Open Construction Jobs Rising

© 2024 Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: newsletter@newslettercollector.com. Go here to UNSUBSCRIBE from this email.