Mortgage Rates Essentially Flat Just Under 5 Month Highs

Boring Monday Keeps The Focus on Next Week Monday may as well have been a 3rd weekend day as far as the bond market is concerned. While equities are preoccupied with earnings, bonds were trading at about HALF their normal clip based on the past 2 weeks of average volume. There were no relevant economic releases and really not even any interesting market moving headlines. Buyers pushed back against modest overnight weakness in the AM hours and then drifted mostly sideways in the PM hours. Days like this only intensify the focus on next week's important slate of events which include a Treasury refunding announcement, Fed announcement (with likely QT tapering on the agenda) and the jobs report. Market Movement Recap08:17 AM Modestly weaker overnight with 10yr yields up 3.3bps at 4.655 and MBS down 2 ticks (.06). 10:53 AM Back in positive territory, MBS up 3 ticks (.09) and 10yr down 0.4bps at 4.618 02:52 PM Best levels at noon, but dialing back a bit into the PM hours. Trading levels right in line with last update. MBS down 3 ticks (.09) from highs, but still up 3 ticks on the day. 03:52 PM Back near best levels. No particular reason or significance. MBS up 5 ticks (.16) and 10yr down 0.7bps at 4.616

April 22, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Boring Monday Keeps The Focus on Next Week Boring Monday Keeps The Focus on Next Week Monday may as well have been a 3rd weekend day as far as the bond market is concerned. While equities are preoccupied with earnings, bonds were trading at abou... (read more) Mortgage Rate Watch Mortgage Rates Essentially Flat Just Under 5 Month Highs Mortgage rates began the new week at almost exactly the same levels seen at the end of last week. There were no major events or economic reports to cause volatility in the underlying bond market, but bonds were able to improve modestly by the e... (read more) Rob Chrisman Piggyback, 2nds, POS Products; G-Rate’s CEO Podcast Interview; Agency News When I was a kid, whenever I would walk by a pay phone or newspaper vending machine, I’d check the coin change slot. Or periodically check under my Dad’s La-Z-Boy… every penny or dollar counted! (Nowadays, I still get excited when I find a forgotten ... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.43% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.43% -0.01 0.00 15 Yr. Fixed 6.85% 0.00 0.00 30 Yr. FHA 6.91% -0.01 0.00 30 Yr. Jumbo 7.62% 0.00 0.00 7/6 SOFR ARM 7.40% -0.01 0.00 30 Yr. VA 6.92% -0.02 0.00 Updates Daily - Last Update: 4/22 15 Yr. Fixed Rate 6.85% +0.00% Rate Change Points Freddie Mac 30 Yr. Fixed 7.10% +0.22 0.00 15 Yr. Fixed 6.39% +0.23 0.00 Updates Weekly - Last Update: 4/18 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.13% +0.12 0.00 15 Yr. Fixed 6.64% +0.18 0.64 30 Yr. Jumbo 7.40% +0.27 0.46 Updates Weekly - Last Update: 4/17 MBS / Treasuries UMBS 30YR 6.0 99.47 +0.16 Price / Yield Change MBS UMBS 6.0 99.47 +0.16 UMBS 6.5 101.16 +0.07 GNMA 6.0 100.28 +0.20 GNMA 6.5 101.38 +0.17 Pricing as of: 4/22 5:31PM EST 10 Year US Treasury 4.6136 -0.0086 Price / Yield Change US Treasury 2 YR Treasury 4.970 -0.018 5 YR Treasury 4.654 -0.017 7 YR Treasury 4.641 -0.012 10 YR Treasury 4.614 -0.009 30 YR Treasury 4.718 +0.008 Pricing as of: 4/22 5:31PM EST Latest Video Luxury real estate sees the biggest increase in three years UBS: The Fed will implement its first rate cut in September December is 'closest possible date' for potential Fed cut, says Wells Fargo... Fed will keep rates higher longer: Ed Yardeni Around the Web CNBC Consumers may soon get access to a share of $8.8 billion in Inflation Reduction Act home energy rebates CNBC Luxury real estate prices just hit an all-time record Eye on Housing Buyer Preference for a Detached Home Remains Strong CNBC Treasury yields rise as investors look to key data in week ahead Calculated Risk Blog DOT: Vehicle Miles Driven Increased 1.4% year-over-year in February 2024 SA CNBC Feds Goolsbee says more sniffing may be needed before rate cuts Marketwatch Amex sees 7% boost in card spending as profit crushes estimates Reuters Fed policy on hold because of 'stalled' progress on inflation, Goolsbee says Calculated Risk Blog NMHC: "Apartment Market Continues to Loosen" Calculated Risk Blog Q1 GDP Tracking: Movin' on Up Eye on Housing Green Building: Resiliency Practices Marketwatch Treasury yields drop in muted flight to quality after Israel retaliation CNBC Israel and Iran: All-out war, or measured retaliation?

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