Mortgage Rates Near 1-Month Highs, But That's Still Pretty Great

Wednesday's Market Movement Raises Stakes for Friday There are times when the bond market seems not to care too terribly much what the ADP Employment report is saying. There are other times when ADP has a surprisingly big impact. Relative to the size of today's beat, we arguably saw one of the surprisingly big reactions today. It's not that the move was huge, but rather, that a beat of 143k vs 120k f'cast isn't really worth trading one way or the other normally. It speaks to a market that's on edge about a potentially reassuring NFP on Friday. The default expectation is for more and more labor market slack to be showing up. If it doesn't, bonds are vulnerable to more selling. If it does, the lower boundaries of the recent rate ranges are already well established by the pre-Fed trade. Econ Data / EventsADP Employment143k vs 120k f'cast, 103k prev Market Movement Recap08:27 AM Weaker overnight and after ADP. MBS down an eighth and 10yr up 5.4bps at 3.787 11:41 AM Bouncing back somewhat. MBS down 3 ticks (.09) and 10yr up 5.9bps at 3.792 (previously as high as 3.817) 01:58 PM MBS nearly back to unchanged, down only 1 tick (0.03). 10yr still up 4.3bps at 3.776 03:43 PM Friendly bounce has run its course. MBS down 3 ticks (.09). 10yr up 5.3bps at 3.786

October 2, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Wednesday's Market Movement Raises Stakes for Friday Wednesday's Market Movement Raises Stakes for Friday There are times when the bond market seems not to care too terribly much what the ADP Employment report is saying. There are other times when ADP has... (read more) Mortgage Rate Watch Mortgage Rates Near 1-Month Highs, But That's Still Pretty Great Mortgage rates moved higher today after an employment report suggested that Friday's forthcoming Employment Situation (the BIG jobs report) might come in slightly better than expected. The report in question, ADP Employment, is always released ... (read more) Rob Chrisman Broker, Renovation, HELOAN, Jumbo Products; STRATMOR and Loan Repurchases; Webinars and Events Whether it was Richey May’s lock picking kit, Maxwell’s milk frother, Total Expert’s socks, or Byte’s locally made sweet treats, there was plenty of vendor schwag in Las Vegas at the ACUMA event, just as there is at many conferences. (Thank you to Li... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.25% +0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.25% +0.05 0.00 15 Yr. Fixed 5.62% +0.07 0.00 30 Yr. FHA 5.76% +0.01 0.00 30 Yr. Jumbo 6.43% +0.03 0.00 7/6 SOFR ARM 6.15% -0.01 0.00 30 Yr. VA 5.78% +0.01 0.00 Updates Daily - Last Update: 10/2 15 Yr. Fixed Rate 5.62% +0.07% Rate Change Points Freddie Mac 30 Yr. Fixed 6.08% -0.01 0.00 15 Yr. Fixed 5.16% +0.01 0.00 Updates Weekly - Last Update: 9/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.13% -0.03 0.57 15 Yr. Fixed 5.47% +0.05 0.52 30 Yr. Jumbo 6.47% +0.06 0.50 Updates Weekly - Last Update: 9/25 MBS / Treasuries UMBS 30YR 5.0 99.98 -0.10 Price / Yield Change MBS UMBS 5.0 99.98 -0.10 UMBS 5.5 101.22 -0.07 GNMA 5.0 100.25 -0.14 GNMA 5.5 101.02 -0.09 Pricing as of: 10/2 5:31PM EST 10 Year US Treasury 3.7804 +0.0474 Price / Yield Change US Treasury 2 YR Treasury 3.635 +0.029 5 YR Treasury 3.551 +0.040 7 YR Treasury 3.642 +0.047 10 YR Treasury 3.780 +0.047 30 YR Treasury 4.127 +0.056 Pricing as of: 10/2 5:31PM EST Latest Video Former NEC Director Gary Cohn: Port strike will have real short-term impact... Private payrolls show better-than-expected growth of 143,000 in September, ... Oil slightly higher on Middle East tensions We're seeing an economy that's slowing, but not stopping, says Annex's Bria... Around the Web Reuters Fed's Barkin Says Rates Were 'Out of Sync' Before September Cut, Inflation Fight Not Done CNBC Private payrolls show better-than-expected growth of 143,000 in September, ADP says CNBC Red hot refinance demand retreats after tiny bump higher in mortgage rates CNBC Student loan payment 'on-ramp' ends, putting some borrowers at risk of delinquency Eye on Housing Refinancing Activity Continues to Climb in September CNBC Real estate fees settlement created 'a new competitive ballgame, expert says. Here's what buyers, sellers need to know Calculated Risk Blog FHFAs National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores CNBC Treasury yields rise as investors weigh economic, geopolitical outlook Eye on Housing Private Residential Construction Spending Falls for Third Straight Month Marketwatch U.S. manufacturing activity contracts for the sixth straight month MBA Accenture Credit Services’ Jason Wilborn: Are You One of 13? Eye on Housing Rebound for Construction Job Openings Marketwatch Chicago business-activity index remains in contraction territory for 10th straight month

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