Mortgage Rates Remain Close to Recent Lows Despite Modest Bump

Once More: What's Up With MBS Underperformance? The notion of MBS underperforming Treasuries is front and center today--not because that underperformance is especially large, but mainly because MBS were often in the red while Treasuries were in the green. We have nothing new to add to yesterday's similar discussion of MBS underperformance but have nonetheless attempted to add a few thoughts in today's video. As for nuts and bolts, it was a boring day for bonds with modest gains for the long end of the yield curve (one major reason for MBS underperformance) and an uneventful, sideways grind in the afternoon. Econ Data / EventsImport Prices-0.6 vs 0.0 f'cast, 0.6 prev Export Prices-0.4 vs 0.1 f'cast, 0.9 prev Consumer Sentiment65.6 vs 72.0 f'cast 69.1 prev 1yr inflation exp. unchanged 5yr inflation exp. +0.1% Market Movement Recap08:58 AM stronger overnight, but giving up some gains in the past half hour. MBS up 1 tick (.03) and 10yr down 2.7bps at 4.218 11:54 AM Choppy trading in a narrow range. MBS underperforming with 5.5s down 1 tick (.03). 10yr yields are down 3bps at 4.215 03:14 PM Zero change from the last update and very little volatility between now and then.

June 14, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Once More: What's Up With MBS Underperformance? Once More: What's Up With MBS Underperformance? The notion of MBS underperforming Treasuries is front and center today--not because that underperformance is especially large, but mainly because MBS were often... (read more) Mortgage Rate Watch Mortgage Rates Remain Close to Recent Lows Despite Modest Bump Today saw the average conventional 30yr fixed rate rise ever so slightly for top tier scenarios. Most lenders are still quoting those scenarios just under 7%. Depending on the specific details of any given scenario, rates range from the m... (read more) Rob Chrisman LOS, Processing, Non-QM, IT Tools; Private Equity, Manufactured Homes, and Freddie/Fannie “In Florida earlier this week we celebrated with a couple of adult beverages: Metamucil and Ensure.” Every state has its quirks, and every state is made fun of by those in other states. Human nature, right? Here in Chicago, the restaurant scene is on... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.99% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.99% +0.02 0.00 15 Yr. Fixed 6.40% +0.02 0.00 30 Yr. FHA 6.44% +0.01 0.00 30 Yr. Jumbo 7.23% +0.01 0.00 7/6 SOFR ARM 7.01% 0.00 0.00 30 Yr. VA 6.45% 0.00 0.00 Updates Daily - Last Update: 6/14 15 Yr. Fixed Rate 6.40% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.95% -0.04 0.00 15 Yr. Fixed 6.17% -0.12 0.00 Updates Weekly - Last Update: 6/13 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.02% -0.05 0.65 15 Yr. Fixed 6.60% -0.15 0.55 30 Yr. Jumbo 7.18% -0.03 0.54 Updates Weekly - Last Update: 6/12 MBS / Treasuries UMBS 30YR 5.5 99.30 -0.06 Price / Yield Change MBS UMBS 5.5 99.30 -0.06 UMBS 6.0 100.71 -0.05 GNMA 5.5 99.71 -0.23 GNMA 6.0 100.86 0.00 Pricing as of: 6/14 5:31PM EST 10 Year US Treasury 4.2180 -0.0267 Price / Yield Change US Treasury 2 YR Treasury 4.703 +0.007 5 YR Treasury 4.238 -0.007 7 YR Treasury 4.215 -0.019 10 YR Treasury 4.218 -0.027 30 YR Treasury 4.349 -0.047 Pricing as of: 6/14 5:31PM EST Latest Video Climate change causes home values to fall off a cliff Real estate market seeing a 'wall of distress' coming as loans mature Cleveland Fed President Loretta Mester: Seen really progress on inflation, ... How consumers are adapting to lower Inflation rates but higher prices Around the Web CNBC Competition in the housing market is cooling off. Here's why CNBC Luxury homes on these beaches are losing value fast, as effects of climate change hit hard Marketwatch Consumer sentiment falls to 7-month low on worries over inflation and weaker incomes Marketwatch Bond markets rally may have more room to run: What a week its been Eye on Housing NAHB Builders Report 22% All-Cash Sales in 2024 CNBC 10-year Treasury yields slip as traders digest surprise drop in wholesale prices Calculated Risk Blog 3rd Look at Local Housing Markets in May Marketwatch These numbers show that banks' risk from office real estate has been exaggerated CNBC Oil prices on pace for best week in more than two months as forecasts point to tighter market CNBC Oil prices fall after bearish increase in U.S. stockpiles, cautious Fed rate cut outlook Eye on Housing Residential Building Material Prices Remain Relatively Unchanged in May Reuters Bank of Japan to trim bond buying, keeps rates steady Calculated Risk Blog Hotels: Occupancy Rate Decreased 0.1% Year-over-year

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