Mortgage Rates Inch to March Highs

Uneventful Trading Day Despite Technical Test For all that we've talked about the 4.32% technical level and considering yields hit the 3pm close at 4.338, one might expect today to have been important, interesting, or eventful. In truth, it was none of those things as this magnitude of breakout is well within the margin of error typically applied to broad technical targets. Even then, what would a breakout really mean if we're still waiting for Wednesday's Fed events to confirm or reject a breakout? In other words, Monday can't be anything other than a placeholder. Market Movement Recap09:31 AM Flat overnight and modestly weaker in early trading. MBS down an eighth and 10yr up 1.2bps at 4.32. 12:22 PM Bouncing around the weakest levels of the day. MBS down 5 ticks (.16) and 10yr up 2.8bps at 4.336. 02:02 PM Weakest levels of the day with MBS off 7 ticks (.23) and 10yr yields up 3.6bps to 4.344.

March 18, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Uneventful Trading Day Despite Technical Test Uneventful Trading Day Despite Technical Test For all that we've talked about the 4.32% technical level and considering yields hit the 3pm close at 4.338, one might expect today to have been important, intere... (read more) Mortgage Rate Watch Mortgage Rates Inch to March Highs Rates marched higher to the highest levels in March today, but most lenders are only microscopically worse off than Friday afternoon. In the slightly bigger picture rates have moved up roughly a quarter of a percent in just over a week and that... (read more) Rob Chrisman DSCR, FHA DPA, LOS, Warehouse, AI, Social Media Products; NAR Settlement Updates Lenders are refinancing borrowers who took out intermediate ARMs 3, 5, or 7 years ago and whose rates have gone up. Some here in Las Vegas, walking around humming this tune while at the ICE and Lender Toolkit event, will say that adjustable-rate mort... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.11% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.11% +0.02 0.00 15 Yr. Fixed 6.64% +0.04 0.00 30 Yr. FHA 6.62% +0.02 0.00 30 Yr. Jumbo 7.40% +0.02 0.00 7/6 SOFR ARM 6.80% +0.02 0.00 30 Yr. VA 6.65% +0.03 0.00 Updates Daily - Last Update: 3/18 15 Yr. Fixed Rate 6.64% +0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 6.74% -0.14 0.00 15 Yr. Fixed 6.16% -0.06 0.00 Updates Weekly - Last Update: 3/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% -0.18 0.65 15 Yr. Fixed 6.37% -0.29 0.77 30 Yr. Jumbo 7.04% -0.17 0.38 Updates Weekly - Last Update: 3/13 MBS / Treasuries UMBS 30YR 5.5 98.69 -0.13 Price / Yield Change MBS UMBS 5.5 98.69 -0.13 UMBS 6.0 100.34 -0.06 GNMA 5.5 99.06 -0.11 GNMA 6.0 100.31 -0.08 Pricing as of: 3/18 5:31PM EST 10 Year US Treasury 4.3280 +0.0200 Price / Yield Change US Treasury 2 YR Treasury 4.734 +0.002 5 YR Treasury 4.352 +0.025 7 YR Treasury 4.355 +0.027 10 YR Treasury 4.328 +0.020 30 YR Treasury 4.454 +0.023 Pricing as of: 3/18 5:31PM EST Latest Video The Fed's unlikely to cut interest rates this year, says Richard Bernstein ... The Fed is more focused on inflation than the labor market, says Dennis Loc... Homebuilder sentiment turns positive for the first time since July Post Brothers CEO discusses trends in office-to-home conversions Around the Web CNBC Homebuilder sentiment turns positive for the first time since July CNBC Fed and other banks to make 'major progress' on rates this year, BIS chief says Calculated Risk Blog Housing March 18th Weekly Update: Inventory Up 1.3% Week-over-week, Up 22.2% Year-over-year Marketwatch No more 6%? Home buyers and sellers will soon negotiate their own commissions with agents. CNBC The best time to sell your home in 2023, listings in this period sold for $7,700 more, research finds CNBC Treasury yields little changed as investors look to Fed meeting Calculated Risk Blog LA Port Traffic Increased Sharply Year-over-year in February Calculated Risk Blog Realtor.com Reports Active Inventory UP 21.7% YoY; New Listings up 15.8% YoY CNBC Treasury yields mixed as investors fret over interest rate outlook Calculated Risk Blog 3rd Look at Local Housing Markets in February Eye on Housing Strong Rebound in Single-Family Permits at the Start of 2024 Calculated Risk Blog GDP Tracking: Around 2% Calculated Risk Blog Industrial Production Increased 0.1% in February

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