Mortgage Rates Effectively Unchanged to Begin New Week

Today was completely different than the previous Monday in that it was a normal, boring day with essentially no change in mortgage rates over the weekend. Contrast that to last Monday which saw an extension of an already wild run to the lowest levels in more than a year. Since last week, the rate market has corrected back into the lower portion of the prevailing range (as opposed to the super low portion, as seen at the beginning of last week and the end of the previous week). In other words, if you'd left town on August 1st and returned today, you'd still be seeing the lowest rates since April 2023. The average lender remains in the mid 6's when it comes to top tier conventional 30yr fixed scenarios. This could change in the coming days as important new economic reports are released. Wednesday's Consumer Price Index (CPI) is the biggest deal, but tomorrow's Producer Price Index (PPI) could play a supporting role. As always, there's no way to know which way rates will move in response to an economic report ahead of time.

August 12, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Effectively Unchanged to Begin New Week Today was completely different than the previous Monday in that it was a normal, boring day with essentially no change in mortgage rates over the weekend. Contrast that to last Monday which saw an extension of an already wild run to the lowest ... (read more) MBS Commentary Choppy Gains in Low Volume. Fun Begins Tomorrow Summertime Fridays and Mondays are prone to low volumes--especially when they are virtually data-free, as is the case to begin the new week. The perennial downside of low volume is that it can result in higher volatility than would otherwise be... (read more) Rob Chrisman Pricing, Refi Specials, DPA, Lead Gen, AI Tools; Broker and Correspondent Products With almost three more months of political jabbering, here’s a town in Kentucky that keeps politics in perspective with qualified candidates. In a mix of politics and lending, candidate Trump was quoted (again) saying that he wants more control over ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.55% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.55% +0.01 0.00 15 Yr. Fixed 6.07% 0.00 0.00 30 Yr. FHA 6.10% +0.01 0.00 30 Yr. Jumbo 6.73% 0.00 0.00 7/6 SOFR ARM 6.40% +0.01 0.00 30 Yr. VA 6.12% +0.02 0.00 Updates Daily - Last Update: 8/12 15 Yr. Fixed Rate 6.07% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 6.47% -0.26 0.00 15 Yr. Fixed 5.63% -0.36 0.00 Updates Weekly - Last Update: 8/8 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.00% -0.03 0.60 15 Yr. Fixed 6.63% +0.07 0.61 30 Yr. Jumbo 7.13% +0.02 0.38 Updates Weekly - Last Update: 7/10 MBS / Treasuries UMBS 30YR 5.5 100.41 +0.06 Price / Yield Change MBS UMBS 5.5 100.41 +0.06 UMBS 6.0 101.56 +0.01 GNMA 5.5 100.42 -0.03 GNMA 6.0 101.26 +0.02 Pricing as of: 8/12 5:31PM EST 10 Year US Treasury 3.9045 -0.0372 Price / Yield Change US Treasury 2 YR Treasury 4.017 -0.037 5 YR Treasury 3.747 -0.051 7 YR Treasury 3.793 -0.049 10 YR Treasury 3.905 -0.037 30 YR Treasury 4.200 -0.024 Pricing as of: 8/12 5:31PM EST Latest Video We are in a buyer's market for new housing construction, says Ivy Zelman We are set up for 'very nice fall' in the housing sector, says Evercore's S... The Fed has to do a better job of signaling where they normalize, says U.S.... Consumer spending is moderating, CNBC/NRF Retail Monitor shows Around the Web CNBC Three-year inflation outlook hits record low in New York Fed consumer survey CNBC 59% of Americans wrongly think the U.S. is in a recession, report finds Calculated Risk Blog 2nd Look at Local Housing Markets in July Calculated Risk Blog Housing August 12th Weekly Update: Inventory up 1.3% Week-over-week, Up 40.5% Year-over-year Eye on Housing Wood-Framed Home Share Decreased in 2023 CNBC Treasury yields rise as attention turns to inflation data Eye on Housing Credit Card and Auto Loan Rates Drop for the First Time in Years CNBC U.S. crude oil rises a fifth day, tops $77 per barrel, as Pentagon sends more forces to Middle East Eye on Housing Most NAHB Builders are Small Businesses Calculated Risk Blog Update: Lumber Prices Up Slightly YoY Eye on Housing Credit for Builders: Rates Up, Availability Down in the Second Quarter Calculated Risk Blog Early Q3 GDP Tracking: Mid-2% CNBC U.S. crude oil on pace for weekly gain after stock market rebound

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