Mortgage Rates Recover Modestly to Begin New Week

The bond market (which dictates interest rates) hasn't had too many Mondays so far in January due to the holiday calendar. Today's example might have been confused for another holiday based on trading volume and volatility. It was the lightest volume day of the year so far and the calmest in terms of volatility. Fortunately, the overnight market movement in Asia and Europe started things off on a solid note. This allowed the average mortgage lender to drop rates slightly from Friday's levels which, at the time, were the highest in more than a month. Today's average rates are the lowest since last Tuesday, but because the recent range has been narrow, they're not too terribly different from any other day since then. Bigger changes become a bigger risk toward the end of the week, but especially by the middle of the following week where we'll get the next Fed announcement and several important economic reports.

January 22, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Recover Modestly to Begin New Week The bond market (which dictates interest rates) hasn't had too many Mondays so far in January due to the holiday calendar. Today's example might have been confused for another holiday based on trading volume and volatility. It was the lig... (read more) MBS Commentary Back to Waiting For Data While bonds are starting the domestic session in slightly stronger territory and holding sideways so far, the broader trend is still toward higher yields. That's been the case for about a month but the pace of weakness during that time has been... (read more) Rob Chrisman Home Equity, Pre-Qual, Correspondent, Verification Tools; Training and Webinars; STRATMOR on LO Habits Attention in the hallways in the early going at the IMB Conference in New Orleans is varied. LinkedIn traffic seems to have picked up for IMB companies like Draper and Kramer and Atlantic Bay, but that is hardly a scientific measure of companies bein... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.87% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.87% -0.05 0.00 15 Yr. Fixed 6.23% -0.04 0.00 30 Yr. FHA 6.12% -0.03 0.00 30 Yr. Jumbo 7.21% -0.04 0.00 5/1 ARM 6.29% -0.01 0.00 30 Yr. VA 6.13% -0.04 0.00 Updates Daily - Last Update: 1/22 15 Yr. Fixed Rate 6.23% -0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 6.60% -0.06 0.00 15 Yr. Fixed 5.76% -0.11 0.00 Updates Weekly - Last Update: 1/18 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.75% -0.06 0.62 15 Yr. Fixed 6.24% -0.17 0.59 30 Yr. Jumbo 6.86% -0.12 0.42 Updates Weekly - Last Update: 1/17 MBS / Treasuries UMBS 30YR 5.5 99.75 +0.14 Price / Yield Change MBS UMBS 5.5 99.75 +0.14 UMBS 6.0 101.03 +0.05 GNMA 5.5 100.19 +0.09 GNMA 6.0 101.20 +0.03 Pricing as of: 1/22 5:31PM EST 10 Year US Treasury 4.1070 -0.0230 Price / Yield Change US Treasury 2 YR Treasury 4.393 +0.004 5 YR Treasury 4.030 -0.024 7 YR Treasury 4.076 -0.025 10 YR Treasury 4.107 -0.023 30 YR Treasury 4.323 -0.014 Pricing as of: 1/22 5:31PM EST Latest Video Compass CEO: All key signs in housing are pointing in the right direction Inflation will be 'stubborn' so rate cuts won't happen as quickly as people... Investors can expect the Fed to begin rate cuts mid-year, says JPMorgan's G... The bar for the Fed to make massive rate cuts is high, says Franklin Temple... Around the Web Marketwatch 2- and 10-year Treasury yields pull back from 2024 highs as Fed's blackout period gets under way Marketwatch Leading indicators fall again, but U.S. appears no closer to recession Eye on Housing U.S. Population Growth Returns to Pre-Pandemic Levels Calculated Risk Blog NMHC: "Apartment Market Continues to Loosen" Calculated Risk Blog Housing January 22nd Weekly Update: Inventory Up 0.2% Week-over-week, Up 7.1% Year-over-year CNBC Treasury yields retreat ahead of big week for economic data Marketwatch Traders give up on a March rate cut by Fed as bond-market inflation expectations move higher CNBC A stealth inflationary cost is hitting corporate profits and consumer wallets CNBC December home sales slump to close out worst year since 1995 Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Decreases to 0.23% in December" CNBC Consumer sentiment surges while inflation outlook dips, University of Michigan survey shows Marketwatch Goolsbee says it's too soon to determine when Fed will cut interest rates Calculated Risk Blog Q4 GDP Tracking: Around 1.8%

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