Mortgage Rates Hold The Line Ahead of a Very Important Jobs Report

While the Federal Reserve doesn't directly dictate mortgage rates, the outlook for Fed rate hikes matters a great deal. In the days and weeks leading up to almost every Fed announcement in the past year, the market has had a very clear sense of how quickly the Fed would be hiking as well as the general levels at which it would likely be done hiking. That had been the case for the upcoming meeting as well. There really hadn't been any doubt that the Fed would continue to hike by 0.25% increments. But several big ticket economic reports caused traders to rethink the outlook. In fact, even Fed Chair Powell admitted that no decision has been made yet and things could change after the jobs report and next week's inflation data. That makes Friday's jobs report incredibly important for rate momentum in the short term. The data will be released at 8:30am ET. If it's much stronger than expected, mortgage rates will likely be moving quickly higher. If it misses forecasts, rates should fall. Either move would be tempered by anticipation for next week's CPI (consumer price index... a key inflation report that could have just as much of an impact. As for today, rates started out modestly higher, but most lenders ended up offering mid-day improvements that brought the average rate slightly below yesterday's.

March 9, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Hold The Line Ahead of a Very Important Jobs Report While the Federal Reserve doesn't directly dictate mortgage rates, the outlook for Fed rate hikes matters a great deal. In the days and weeks leading up to almost every Fed announcement in the past year, the market has had a very clear sense of... (read more) MBS Commentary Thursday Was Nice, But It's All About Friday Thursday Was Nice, But It's All About Friday There wasn't much for the bond market to sink its teeth into on Thursday. Traders focused on higher jobless claims numbers right out of the gate with the mar... (read more) Rob Chrisman Home Equity, AOT, Outsourcing, First-Time Homebuyer Tools; Dept. of Justice vs. a Detroit Broker I wonder if Fed Chair Jerome Powell ever hums to himself, “Everybody’s talking at me, I can’t hear a word they’re saying…” (Angelina Jolie’s father, John Voight, is alive and doing fine.) The bond market has heard him loud and clear, however. Rates a... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.00% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.00% -0.05 0.00 15 Yr. Fixed 6.45% -0.05 0.00 30 Yr. FHA 6.50% -0.04 0.00 30 Yr. Jumbo 6.47% -0.03 0.00 5/1 ARM 6.60% -0.02 0.00 30 Yr. VA 6.52% -0.06 0.00 Updates Daily - Last Update: 3/9 15 Yr. Fixed Rate 6.45% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.73% +0.08 0.00 15 Yr. Fixed 5.95% +0.06 0.00 Updates Weekly - Last Update: 3/9 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% +0.08 0.80 15 Yr. Fixed 6.25% +0.12 1.01 30 Yr. Jumbo 6.49% +0.05 0.59 Updates Weekly - Last Update: 3/8 MBS / Treasuries UMBS 30YR 5.5 99.72 +0.55 Price / Yield Change MBS UMBS 5.5 99.72 +0.55 UMBS 6.0 101.09 +0.48 GNMA 5.5 100.28 +0.50 GNMA 6.0 101.20 +0.45 Pricing as of: 3/9 5:31PM EST 10 Year US Treasury 3.9071 -0.0819 Price / Yield Change US Treasury 2 YR Treasury 4.874 -0.196 5 YR Treasury 4.195 -0.151 7 YR Treasury 4.070 -0.128 10 YR Treasury 3.907 -0.082 30 YR Treasury 3.853 -0.038 Pricing as of: 3/9 5:31PM EST Latest Video Initial jobless claims total 211,000 CNBC's ‘Halftime Report’ investment committee talks Fed speak and jobs data Fed Chair Powell: Our status as the world's reserve currency is not under t... The latest Fed Beige Book acknowledges slight increase in economic activity Around the Web CNBC In just a few minutes this week, Powell changed everything on market's view of interest rates Eye on Housing Cost of Constructing a Home in 2022 Calculated Risk Blog Realtor.com Reports Weekly Active Inventory Up 61% YoY; New Listings Down 26% YoY The Basis Point FTC votes 4-0 to block ICE & Black Knight deal to merge America’s top 2 mortgage fintechs Calculated Risk Blog February Employment Preview Calculated Risk Blog "Home ATM" is Closing; Mortgage Equity Withdrawal (MEW) Declines in Q4 NY Fed Inflation Persistence: Dissecting the News in January PCE Data Calculated Risk Blog Weekly Initial Unemployment Claims increase to 211,000 Calculated Risk Blog Fed's Flow of Funds: Household Net Worth Increased $2.9 Trillion in Q4 CNBC Treasury yields mixed as investors consider potential Fed rate policy moves CNBC CNBC Daily Open: Everyone's anxious about Friday's jobs report Black Knight LoanCare Will Use Black Knight Loss Mitigation Solution to Help Homeowners Who Need Mortgage Payment Assistance CNBC European markets head for lower open as investors weigh economic outlook

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