Mortgage Rates Sideways to Slightly Lower to Start New Week

Decent Resilience in Spite of a Few Headwinds Considering the volatility that may lie ahead, Monday ended up being a calm and decent start to the week. The ostensible overnight headwind was the rumored currency intervention by the Japanese government. In the past, this has caused heavy selling in Treasuries, but that wasn't the case. As such, this wasn't really a headwind. The more legitimate challenge came in the form of higher borrowing estimates from Treasury this afternoon. Bonds actually did a good job of taking that news in stride, but nonetheless moved to weaker levels. It was a bigger problem for MBS due to the way they relate to the Treasury yield curve these days. Market Movement Recap10:14 AM Moderately stronger overnight, but pulling back a bit. 10yr still down 2.4bps at 4.64. MBS up an eighth. 11:48 AM Some two way volatility with gains into the 11am hour and a small pull-back now. MBS up 3 ticks (.09) and 10yr down 3bps at 4.634. 01:24 PM Slightly stronger. MBS up 5 ticks (.16). 10yr down 4.8bps at 4.617. 03:40 PM Moderately weaker after Treasury refunding estimates. MBS at lows, but still up 2 ticks (.06) on the day. 10yr yields down 3.7 on the day at 4.628.

April 29, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Decent Resilience in Spite of a Few Headwinds Decent Resilience in Spite of a Few Headwinds Considering the volatility that may lie ahead, Monday ended up being a calm and decent start to the week. The ostensible overnight headwind was the rum... (read more) Mortgage Rate Watch Mortgage Rates Sideways to Slightly Lower to Start New Week Mortgage rates didn't change much at all over the weekend with the average lender still in the highest territory since November. The average conventional 30yr fixed rate is just under 7.5% for top tier scenarios. Things could end up changing q... (read more) Rob Chrisman Borrower Outreach, Servicing Oversight Products; TPO News; Bank Merger Announced; Brokers and RESPA “I accidentally rubbed ketchup in my eyes. Now I have Heinzsight.” In terms of foresight, looking ahead, there are some interesting things going on out there in Mortgage Land! How ‘bout the CapitalW Collective non-profit for women in mortgage capital... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.43% -0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.43% -0.02 0.00 15 Yr. Fixed 6.85% -0.01 0.00 30 Yr. FHA 6.92% -0.03 0.00 30 Yr. Jumbo 7.63% -0.01 0.00 7/6 SOFR ARM 7.50% 0.00 0.00 30 Yr. VA 6.93% -0.03 0.00 Updates Daily - Last Update: 4/29 15 Yr. Fixed Rate 6.85% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 7.17% +0.07 0.00 15 Yr. Fixed 6.44% +0.05 0.00 Updates Weekly - Last Update: 4/25 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.24% +0.11 0.66 15 Yr. Fixed 6.75% +0.11 0.64 30 Yr. Jumbo 7.45% +0.05 0.56 Updates Weekly - Last Update: 4/24 MBS / Treasuries UMBS 30YR 6.0 99.48 +0.11 Price / Yield Change MBS UMBS 6.0 99.48 +0.11 UMBS 6.5 101.09 +0.02 GNMA 6.0 100.54 +0.19 GNMA 6.5 101.46 +0.14 Pricing as of: 4/29 5:31PM EST 10 Year US Treasury 4.6069 -0.0576 Price / Yield Change US Treasury 2 YR Treasury 4.972 -0.023 5 YR Treasury 4.637 -0.054 7 YR Treasury 4.624 -0.063 10 YR Treasury 4.607 -0.058 30 YR Treasury 4.725 -0.049 Pricing as of: 4/29 5:31PM EST Latest Video The 10-year Treasury is still very much priced for a 2% inflation world: JP... The real problem with commercial real estate is people not coming to work, ... The Fed has no choice but to focus in on the 2% inflation target, says Roge... April's final consumer sentiment read drops to 77.2 Around the Web Marketwatch Why the Fed looks likely to scramble back to a hawkish stance Treasury Treasury Announces Marketable Borrowing Estimates CNBC Treasury yields fall as investors look to Fed meeting Calculated Risk Blog Housing April 29th Weekly Update: Inventory up 2.5% Week-over-week, Up 31.8% Year-over-year Reuters Japan's yen jumps against the dollar on suspected intervention CNBC New home sales inch higher despite 7% mortgage rates: 'There's more opportunity,' economist says Eye on Housing Increasing the Market for Green Building Calculated Risk Blog Energy expenditures as a percentage of PCE CNBC Key Fed inflation measure rose 2.8% in March from a year ago, more than expected Eye on Housing Student Housing Construction Dips in the First Quarter of 2024 Eye on Housing How Rising Costs Affect Home Affordability Eye on Housing Personal Saving Rate Falls to 3.2% in March Calculated Risk Blog Fannie and Freddie: Single Family Serious Delinquency Rate Decreased, Multi-family Decreased in March

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