Data and Bank Headlines Driving Rally Ahead of Fed

In an interesting turn of events this morning, the Treasury refunding announcement has taken a back seat to econ data which has, in turn, taken a back seat to bank drama headlines. Seating order aside, we have a 3-row SUV full of good news for rates ahead of this afternoon's Fed announcement. Because the bank headlines are in the driver's seat with ECI in the middle row, the tone has been most favorable for shorter-term rates. One COULD claim that markets must have expected more damage in shorter-term Treasury issuance, but Fed Funds Futures confirm bank headlines as the key consideration.

January 31, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Data and Bank Headlines Driving Rally Ahead of Fed In an interesting turn of events this morning, the Treasury refunding announcement has taken a back seat to econ data which has, in turn, taken a back seat to bank drama headlines. Seating order aside, we have a 3-row SUV full of good news for ... (read more) Rob Chrisman Home Equity Appraisal, Market Research Tools; Planet Home Stats; Agency Changes I could tell that my cat Myrtle was miffed. Not only had the work on her “2024 Vision Board Statement” languished, but either there was no line-caught halibut in her bowl, or the laser pointer’s battery was dead. It turned out that it was neither. In... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% -0.12% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% -0.12 0.00 15 Yr. Fixed 6.18% -0.11 0.00 30 Yr. FHA 6.05% -0.11 0.00 30 Yr. Jumbo 7.20% -0.05 0.00 5/1 ARM 6.22% -0.10 0.00 30 Yr. VA 6.06% -0.12 0.00 Updates Daily - Last Update: 1/31 15 Yr. Fixed Rate 6.18% -0.11% Rate Change Points Freddie Mac 30 Yr. Fixed 6.69% +0.09 0.00 15 Yr. Fixed 5.96% +0.20 0.00 Updates Weekly - Last Update: 1/25 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.78% +0.03 0.63 15 Yr. Fixed 6.31% +0.07 0.59 30 Yr. Jumbo 6.94% +0.08 0.46 Updates Weekly - Last Update: 1/24 MBS / Treasuries UMBS 30YR 5.5 100.38 +0.28 Price / Yield Change MBS UMBS 5.5 100.38 +0.28 UMBS 6.0 101.42 +0.22 GNMA 5.5 100.75 +0.23 GNMA 6.0 101.50 +0.19 Pricing as of: 1/31 5:31PM EST 10 Year US Treasury 3.9270 -0.1090 Price / Yield Change US Treasury 2 YR Treasury 4.219 -0.120 5 YR Treasury 3.847 -0.127 7 YR Treasury 3.892 -0.118 10 YR Treasury 3.927 -0.109 30 YR Treasury 4.176 -0.075 Pricing as of: 1/31 5:31PM EST Latest Video Fed Chair Powell: Inflation is still too high and the path forward is still... Fed holds rates steady, indicates it is not ready to start cutting Fed Chair Powell: A Fed cut in March is unlikely Fed Chair Powell: The FOMC is in favor of cuts this year Around the Web CNBC Fed holds rates steady, indicates it is not ready to start cutting CNBC Fed Chief Jerome Powell says a March rate cut is not likely ResiClub Blackstone will have the third-largest U.S. single-family portfolio once it completes its Tricon Residential acquisition Reuters Regional banks hit after New York Community Bancorp cuts dividend after loss CNBC Fed meeting live updates: Traders await central banks statement on the path for rate cuts CNBC Private payroll growth slowed to just 107,000 in January, below expectations, ADP reports Treasury Treasury Quarterly Refunding Statement CNBC Bank of England could be about to open the door to interest rate cuts Eye on Housing Homeownership Rate Dips to 65.7% Amid Housing Affordability Woes CNBC The Fed will cut rates fewer times and start them later than market hopes, according to CNBC Fed survey Calculated Risk Blog MBA: Mortgage Applications Decreased in Weekly Survey CNBC Treasury yields fall ahead of Fed interest rate decision Calculated Risk Blog HVS: Q4 2023 Homeownership and Vacancy Rates

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