Mortgage Rates Start Week Slightly Lower as Election Volatility Works Both Ways

Election Remains Dominant Source of Volatility While the average day of the past few weeks has involved election odds pushing yields higher, today was quite the opposite. There's some debate as to whether it was polling or betting market odds that got the markets attention, but less debate about the nature of the ifs and thens at a broad level. A modicum of lower certainty of a Trump victory was the catalyst. It was a spark that didn't need to burn for long in this environment characterized by excessive dry powder for volatility. Bonds thought better of the overnight rally by mid-day, but not enough to undo the gains. Ultimately, yields ended right about where they were before Friday's jobs report. Exciting stuff for today, but boring in the bigger picture. Market Movement Recap09:48 AM Much stronger overnight on shifting election odds. MBS up 3/8ths and 10yr down 11.3bps at 4.281. 11:21 AM Losing ground since 10am. Still much stronger on the day with MBS up a quarter point and 10yr down 9.3bps at 4.301 01:33 PM New lows, still up 5 ticks (.16) on the day, but down a quarter point from highs. 10yr down 7.2bps at 4.322, but up from lows of 4.262 04:08 PM Off the lows from the last update. MBS up 9 ticks (.28) and 10yr down 9.7bps at 4.297.

November 4, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Election Remains Dominant Source of Volatility Election Remains Dominant Source of Volatility While the average day of the past few weeks has involved election odds pushing yields higher, today was quite the opposite. There's some debate as to wheth... (read more) Mortgage Rate Watch Mortgage Rates Start Week Slightly Lower as Election Volatility Works Both Ways Love it or hate it, election-related volatility has been having a big impact on the bond market and, thus, mortgage rates. Most of the volatility has resulted in higher rates, but there was an exception over the weekend. Due to a combinat... (read more) Rob Chrisman HELOC, Veterans, LOS, Insurance Products; Webinars, Events, Training This Week Someone’s making money out there, right? Freddie and Fannie continue to earn billions, with a good chunk coming from g-fee income, and see hundreds of billions flow through their systems every quarter (for those playing along at home, their net worth... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.05% -0.04% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.05% -0.04 0.00 15 Yr. Fixed 6.40% -0.09 0.00 30 Yr. FHA 6.57% -0.05 0.00 30 Yr. Jumbo 7.11% -0.04 0.00 7/6 SOFR ARM 6.94% +0.02 0.00 30 Yr. VA 6.58% -0.06 0.00 Updates Daily - Last Update: 11/4 15 Yr. Fixed Rate 6.40% -0.09% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.18 0.00 15 Yr. Fixed 5.99% +0.28 0.00 Updates Weekly - Last Update: 10/31 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 99.13 +0.28 Price / Yield Change MBS UMBS 5.5 99.13 +0.28 UMBS 6.0 100.70 +0.20 GNMA 5.5 99.58 +0.26 GNMA 6.0 100.85 +0.17 Pricing as of: 11/4 5:31PM EST 10 Year US Treasury 4.2918 -0.1015 Price / Yield Change US Treasury 2 YR Treasury 4.171 -0.045 5 YR Treasury 4.154 -0.066 7 YR Treasury 4.223 -0.089 10 YR Treasury 4.292 -0.102 30 YR Treasury 4.473 -0.110 Pricing as of: 11/4 5:31PM EST Latest Video Misreading the market: What surging bond yields mean for the Fed The Fed should look through the weaker-than-expected October jobs report, s... US homeowners have record equity U.S. factory orders fall by 0.5% in September Around the Web CNBC More homeowners just started pulling cash out of their properties. Here's why. CNBC The average age of U.S. homebuyers jumps to 56homes are 'wildly unaffordable' for young people, real estate expert says Reuters US yields dip as 'Trump trades' unwind in tight presidential race CNBC As the election winds down, worries of 'bond vigilantes' and inflation hit markets Eye on Housing Residential Building Wages Grow at Unprecedented Rate CNBC Treasury yields fall as investors brace for U.S. presidential election Calculated Risk Blog ICE Mortgage Monitor: "Annual home price growth cooled for the seventh consecutive month" Calculated Risk Blog Housing Nov 4th Weekly Update: Inventory Unchanged Week-over-week, Up 29.8% Year-over-year Eye on Housing Share of Young Adults Living with Parents by Congressional District CNBC Despite a half-point Fed rate cut, the average credit card interest rate fell by just 0.13%, report finds Marketwatch U.S. factory sector weakness deepens in October, ISM data show Eye on Housing Private Residential Construction Spending Rises in September Calculated Risk Blog Construction Spending Increased 0.1% in September

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