Mortgage Rates Roughly Unchanged Over The Weekend

Mortgage rates held fairly steady over the weekend. That wasn't necessarily destined to be the case as the underlying bond market suggested another mover higher earlier this morning. But bonds rallied after an important economic report on the services sector suggested slower growth (bonds tend to improve in response to weaker cues on the economy and inflation). This allowed mortgage lenders to set rates close to where they'd been on Friday afternoon. Some were slightly higher while others were slightly lower, leaving the average just a hair better than unchanged. So is that good or bad? It depends on your perspective. It could certainly be worse considering today's rates are almost a quarter point below the most recent high seen just before the holiday weekend. It could also certainly be better considering rates were more than a quarter point lower 2 weeks before that. In general, this is the sort of volatility and range we should expect until economic data shows a clear shift toward lower inflation and growth. With the next major inflation report (CPI) and the next Fed rate announcement on Tuesday and Wednesday next week, rates might not be inclined to make a big run in either direction between now and then.

June 5, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Roughly Unchanged Over The Weekend Mortgage rates held fairly steady over the weekend. That wasn't necessarily destined to be the case as the underlying bond market suggested another mover higher earlier this morning. But bonds rallied after an important economic report on... (read more) MBS Commentary Decent Recovery After PMI Data; Markets Trading The Ceiling Time Frame Bonds began the day in weaker territory but quickly found their footing after softer PMI data. In particular, ISM Services (50.3 vs 52.2) helped 10yr yields move from being a few bps higher to a few bps lower. From here, the week shifts t... (read more) Rob Chrisman Third-Party, Down Payment, Outsourcing Products, Freddie and Fannie Updates for Appraisals It isn’t as if building or lending products, or ways of doing business, were handed down by Trappist monks. Change is always afoot, for better or worse. What is old is new again. Teachers are moving to oral exams to counteract AI and ChatGPT, similar... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.89% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.89% -0.01 0.00 15 Yr. Fixed 6.28% -0.01 0.00 30 Yr. FHA 6.53% -0.02 0.00 30 Yr. Jumbo 6.65% 0.00 0.00 5/1 ARM 6.86% +0.01 0.00 30 Yr. VA 6.52% -0.03 0.00 Updates Daily - Last Update: 6/5 15 Yr. Fixed Rate 6.28% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.79% +0.22 0.00 15 Yr. Fixed 6.18% +0.21 0.00 Updates Weekly - Last Update: 6/1 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.91% +0.22 0.83 15 Yr. Fixed 6.41% +0.26 0.84 30 Yr. Jumbo 6.78% +0.21 0.76 Updates Weekly - Last Update: 5/31 MBS / Treasuries UMBS 30YR 5.0 98.39 +0.05 Price / Yield Change MBS UMBS 5.0 98.39 +0.05 UMBS 5.5 99.84 +0.02 GNMA 5.0 98.58 +0.05 GNMA 5.5 99.88 +0.02 Pricing as of: 6/5 5:31PM EST 10 Year US Treasury 3.6890 -0.0110 Price / Yield Change US Treasury 2 YR Treasury 4.468 -0.044 5 YR Treasury 3.821 -0.031 7 YR Treasury 3.764 -0.024 10 YR Treasury 3.689 -0.011 30 YR Treasury 3.889 -0.002 Pricing as of: 6/5 5:31PM EST Latest Video Economy remains very strong despite Fed's rate hikes, says Allspring Global... Former Fed Governor Daniel Tarullo: A 'hawkish pause' is the most likely ou... Roger Ferguson: It's going to be a '60/40 go vs. pause discussion' on inter... May ISM Non-Manufacturing PMI Index fell to 50.3 Around the Web Calculated Risk Blog Black Knight Mortgage Monitor: Home Prices Increased Month-to-month in April; Prices Unchanged YoY CNBC Treasury yields rise as investors assess interest rate outlook, key economic data Eye on Housing The Median Age of the Construction Workforce Calculated Risk Blog Housing June 5th Weekly Update: Inventory Increased 0.7% Week-over-week CNBC Even as inflation rate subsides, prices may stay higher. Here's why CNBC Arizona sets limits on construction around Phoenix as groundwater dwindles Calculated Risk Blog Year-over-year Rent Growth Continues to Decelerate; Asking Rents Likely to be Down year-over-year in June or July Calculated Risk Blog Vehicles Sales at 15.05 million SAAR in May; Up 19.6% YoY CNBC Payrolls rose 339,000 in May, much better than expected in resilient labor market CNBC Heres where the jobs are for May 2023 in one chart Calculated Risk Blog Comments on May Employment Report CNBC Treasury yields hold steady as Senate passes debt ceiling bill, investors await key jobs data CNBC European markets look set for muted open

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