Mortgage Rates Roughly Unchanged After Last Week's Huge Drop

If you're just getting caught up, last Thursday was one for the record books--at least when it comes to the daily records that exist going back to 2009. No other day has seen as big of a drop in the average 30yr fixed mortgage rate (0.60%). The bonds that dictate mortgage rates lost quite a bit of ground today, but that didn't translate to any meaningful damage. This speaks to the 'uncertainty premium' that oftentimes prevents lenders from dropping rates as much as the market might suggest at the end of any given week. It's usually more noticeable before 3-day weekends, but was easily lost in the shuffle given the scope of the movement. In simpler terms, lenders had to hold something back on Thursday, even though it didn't look like it at the time. That may have translated to even lower rates today, had the bond market made gains. Instead, it allowed lenders to keep rates relatively unchanged even though bonds suggested a move higher. The bigger picture is more promising than it had been, but still dependent on additional data for confirmation. The worse the economy is doing, the better rates should be able to do, as long as inflation continues to moderate.

November 14, 2022 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Roughly Unchanged After Last Week's Huge Drop If you're just getting caught up, last Thursday was one for the record books--at least when it comes to the daily records that exist going back to 2009. No other day has seen as big of a drop in the average 30yr fixed mortgage rate (0.60%). Th... (read more) MBS Commentary The Best Half Point MBS Sell-Off (Updated Video!) The Best Half Point MBS Sell-Off On probably any other day, a half point sell-off in MBS would be bad news. And on many days in the past, a half-point sell-off has been VERY bad news. Today, ho... (read more) Rob Chrisman TPO, HOA Data, Outsourcing, Due Diligence Tools; Training and Webinars; NAR's 2023 Forecast For some reason, companies laying off large numbers of people (most recently Better, Freedom, Mr. Cooper) make headlines, whereas shouldn’t the unusual, like companies that aren’t laying off anyone or who are hiring, be more newsworthy? There are ind... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.65% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.65% +0.03 0.00 15 Yr. Fixed 6.12% +0.12 0.00 30 Yr. FHA 6.25% +0.05 0.00 30 Yr. Jumbo 6.15% +0.05 0.00 5/1 ARM 6.25% +0.13 0.00 30 Yr. VA 6.30% +0.05 0.00 Updates Daily - Last Update: 11/14 15 Yr. Fixed Rate 6.12% +0.12% Rate Change Points Freddie Mac 30 Yr. Fixed 7.08% +0.13 0.90 15 Yr. Fixed 6.38% +0.09 1.00 5/1 Yr. ARM 6.06% +0.11 0.20 Updates Weekly - Last Update: 11/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.14% +0.08 0.77 15 Yr. Fixed 6.40% +0.03 1.13 30 Yr. Jumbo 6.50% -0.05 0.78 Updates Weekly - Last Update: 11/9 MBS / Treasuries UMBS 30YR 5.0 98.44 -0.41 Price / Yield Change MBS UMBS 5.0 98.44 -0.41 UMBS 5.5 100.30 -0.39 GNMA 5.0 99.08 -0.22 GNMA 5.5 100.69 -0.39 Pricing as of: 11/14 5:31PM EST 10 Year US Treasury 3.8574 +0.0075 Price / Yield Change US Treasury 2 YR Treasury 4.393 +0.044 5 YR Treasury 3.993 +0.033 7 YR Treasury 3.935 +0.021 10 YR Treasury 3.857 +0.008 30 YR Treasury 4.041 -0.006 Pricing as of: 11/14 5:31PM EST Latest Video Lennar, Icon can complete one 3D-printed house every two weeks Inflation is much lower than the Fed thinks, says Wharton Professor of Fina... Inflation data takes Fed tightening into 'fine-tuning' phase, says Jefferie... Monetary policy must continue to tighten, says Esther George, KC Fed presid... Around the Web CNBC Here's why it may take a while for housing inflation to cool off CNBC Fed Vice Chair Brainard says it may 'soon' be appropriate to move to slower pace of rate hikes Black Knight Black Knights October 2022 Originations Market Monitor Calculated Risk Blog 2nd Look at Local Housing Markets in October CNBC Inflation expectations rebounded in October on record-high jump in gas outlook, NY Fed survey shows Calculated Risk Blog Housing November 14th Weekly Update: Inventory Decreased Slightly Week-over-week CNBC Mortgage rates fall sharply to under 7% after inflation eases CNBC Treasury yields rise as investors consider inflation outlook, future Fed policy Calculated Risk Blog Four High Frequency Indicators for the Economy Calculated Risk Blog Housing and Inflation CNBC Fed officials welcome inflation news but still see tighter policy ahead Calculated Risk Blog MBA: "Mortgage Delinquencies Decrease to New Survey Low in the Third Quarter of 2022" CNBC European markets set to start the new trading week on a positive note

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