Mortgage Rates Effectively Unchanged Near Recent Highs

Only So Many Ways to Say Sideways It was an uneventful, boring, uninspiring, and unenlightening summertime Monday in the bond market--the kind that would have been put to far better use in the construction of another 3-day weekend. But alas! It happened (barely) and that leaves us with the unpleasant task of finding anything meaningful to observe. Such days reduce the analysis to focusing on technicals and bigger picture themes. On the technical front, 10s battled the 3.72% range floor yet again, but failed to maintain the breakout. The bigger picture theme of "recession and disinflation" versus "a surprisingly persistent status quo" received no compelling new evidence today (which makes it easier to reconcile the flatness). Market Movement Recap09:44 AM Stronger overnight, but weaker since 9am. 10yr down half a bp at 3.73. MBS up 2 ticks, but down an eighth from AM highs. 01:46 PM Very flat after morning correction. MBS up 2 ticks (0.06) and 10yr yield down 1.6bps on the day at 3.721. 03:44 PM Completely unchanged since the last update. No relevant events or headlines.

June 26, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary Only So Many Ways to Say Sideways Only So Many Ways to Say Sideways It was an uneventful, boring, uninspiring, and unenlightening summertime Monday in the bond market--the kind that would have been put to far better use in the construction of... (read more) Mortgage Rate Watch Mortgage Rates Effectively Unchanged Near Recent Highs The average 30yr fixed mortgage rate has been holding just under 7% for the entire month, making June the least volatile month in well over a year. An absence of volatility frequently speaks to indecision in the bond market (interest rates are ... (read more) Rob Chrisman Information Sharing, Home Equity, Fulfillment, Marketing Products; Conventional Conforming News How can it be that it’s been 14 years since Michael Jackson died of acute propofol intoxication? (A drug that is used for the induction and maintenance of general anesthesia.) The world certainly took notice of his death, and moving into mortgage ban... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.91% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.91% -0.01 0.00 15 Yr. Fixed 6.30% 0.00 0.00 30 Yr. FHA 6.62% 0.00 0.00 30 Yr. Jumbo 6.74% +0.02 0.00 5/1 ARM 6.90% 0.00 0.00 30 Yr. VA 6.61% -0.01 0.00 Updates Daily - Last Update: 6/26 15 Yr. Fixed Rate 6.30% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.02 0.00 15 Yr. Fixed 6.03% -0.07 0.00 Updates Weekly - Last Update: 6/22 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% -0.04 0.64 15 Yr. Fixed 6.26% +0.01 0.71 30 Yr. Jumbo 6.80% +0.01 0.49 Updates Weekly - Last Update: 6/21 MBS / Treasuries UMBS 30YR 5.0 98.45 +0.03 Price / Yield Change MBS UMBS 5.0 98.45 +0.03 UMBS 5.5 99.91 0.00 GNMA 5.0 98.70 +0.06 GNMA 5.5 99.84 -0.02 Pricing as of: 6/26 5:31PM EST 10 Year US Treasury 3.7210 -0.0160 Price / Yield Change US Treasury 2 YR Treasury 4.740 -0.010 5 YR Treasury 3.966 -0.029 7 YR Treasury 3.851 -0.023 10 YR Treasury 3.721 -0.016 30 YR Treasury 3.815 +0.001 Pricing as of: 6/26 5:31PM EST Latest Video Yield curve sending a strong recessionary signal, says Wolfe's Chris Senyek Interest rates will stay higher than the market assumes, says Essex Investm... The economy is not slowing as much as people think, says former Fed Preside... Inflation is set to track lower in the second half of the year, says Fundst... Around the Web CNBC 'Enormously costly' business loan fraud drove home price inflation in certain markets, research suggests Eye on Housing Bank Failures Having Some Effect on Builders Calculated Risk Blog Update on Four High Frequency Indicators CNBC Mortgage catastrophe brews in Britain as millions are pushed toward insolvency Calculated Risk Blog Housing June 26th Weekly Update: Inventory Increased 2.0% Week-over-week Reuters Euro zone bond yields fall as economic outlook darkens CNBC Treasury yields fall as investors prepare for economic reports, Fed speaker comments Calculated Risk Blog Final Look at Local Housing Markets in May Calculated Risk Blog Black Knight: "Past-Due Mortgages Approach Recent Record Lows" in May Calculated Risk Blog Q2 GDP Tracking: Around 1.5% Wall Street Journal Central-Bank Action Finally Cooling Global Economy CNBC Fed Chair Powell says smaller banks likely will be exempt from higher capital requirements CNBC Treasury yields decline as investors digest Fed speaker comments

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