Mortgage Rates Modestly Lower to Start The New Week

Mortgage rates did well last week, making it almost halfway back to the lower levels seen on April 9th. Why focus on April 9th? That was the last day before the most recent Consumer Price Index (CPI). Why focus on CPI? That's the monthly economic data that matters most to rate movement these days. It's not the only game in town, but it caused the biggest recent jump, by far. Last week's combination of economic data and reassurance from the Fed was enough to get rates headed back in a friendly direction. There was some follow-through today, but not for any news reasons. In fact, "reasons" for rate movement are in far more limited supply this week. In other words, last week was good and we caught a small break today with the modest improvement in rates, but things could be more choppy and sideways for the rest of the week.

May 6, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Modestly Lower to Start The New Week Mortgage rates did well last week, making it almost halfway back to the lower levels seen on April 9th. Why focus on April 9th? That was the last day before the most recent Consumer Price Index (CPI). Why focus on CPI? That's the m... (read more) MBS Commentary Everything is a Sideshow Until May 15th Last week was definitely important for the bond market. The key takeaway was the Fed's acknowledgement of elevated inflation in Q1 coupled with the assessment that they still see inflation subsiding in the coming months and that the next move i... (read more) Rob Chrisman Digital HELOC, Non-QM, Diligence, CRM, Construction Products; Primer on NEXA/Kortas/Grella Case Think your job has its ups and downs… How’d you like to be a lipstick tester? (You should see the rest of him!) For me it is off to Birmingham tomorrow, where no lipstick testing is on the agenda, but I am sure that one of the topics at the MBA of Al... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.25% -0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.25% -0.03 0.00 15 Yr. Fixed 6.68% -0.07 0.00 30 Yr. FHA 6.64% -0.06 0.00 30 Yr. Jumbo 7.45% -0.03 0.00 7/6 SOFR ARM 7.32% -0.03 0.00 30 Yr. VA 6.65% -0.07 0.00 Updates Daily - Last Update: 5/6 15 Yr. Fixed Rate 6.68% -0.07% Rate Change Points Freddie Mac 30 Yr. Fixed 7.22% +0.05 0.00 15 Yr. Fixed 6.47% +0.03 0.00 Updates Weekly - Last Update: 5/2 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.24% +0.11 0.66 15 Yr. Fixed 6.75% +0.11 0.64 30 Yr. Jumbo 7.45% +0.05 0.56 Updates Weekly - Last Update: 4/24 MBS / Treasuries UMBS 30YR 6.0 100.03 -0.06 Price / Yield Change MBS UMBS 6.0 100.03 -0.06 UMBS 6.5 101.53 -0.06 GNMA 6.0 100.92 -0.11 GNMA 6.5 101.60 -0.17 Pricing as of: 5/6 5:31PM EST 10 Year US Treasury 4.4889 -0.0249 Price / Yield Change US Treasury 2 YR Treasury 4.834 +0.014 5 YR Treasury 4.488 -0.016 7 YR Treasury 4.483 -0.022 10 YR Treasury 4.489 -0.025 30 YR Treasury 4.638 -0.033 Pricing as of: 5/6 5:31PM EST Latest Video Fundstrat's Tom Lee: Inflation is going to 'cool pretty dramatically' in th... WSJ's Greg Ip: Everybody's conviction of 2% inflation has to be lower after... Inflation was last year's story, says Brookfield CEO Bruce Flatt Hightower's Stephanie Link doesn't expect a Fed cut this year Around the Web Marketwatch Fed's Barkin thinks the U.S. economy will slow further, cooling down inflation CNBC Renters' hopes of being able to buy a home have fallen to a record low, New York Fed survey shows Calculated Risk Blog Fed SLOOS Survey: Banks reported Tighter Standards, Weaker Demand for almost All Loan Types Calculated Risk Blog Housing May 6th Weekly Update: Inventory up 0.6% Week-over-week, Up 33.1% Year-over-year Calculated Risk Blog ICE Mortgage Monitor: Annual home price growth eased in March; "For-sale inventory has been growing sharply across Florida" Eye on Housing Home Buyers Ideal Community CNBC 10-year Treasury yield holds below 4.5% after softer-than-expected U.S. jobs data Eye on Housing Residential Building Wages Continued to Rise Calculated Risk Blog Fannie "Real Estate Owned" inventory Decreased in Q1 2024 Calculated Risk Blog Inflation Adjusted House Prices 2.4% Below Peak; Price-to-rent index is 7.5% below 2022 peak Marketwatch Fed’s Bowman says she’s still willing to raise rates Market Watch Fed still trying to assess if recent hot inflation readings mean economy is overheating, Goolsbee says FXStreet Fed's Goolsbee: Current employment numbers are solid

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