Mortgage Rates Move Slightly Higher, But Still Effectively at 3-Month Lows

A Bit of Meaningless Weakness. More Important Stuff On Deck Bonds lost ground to start the new week, but not for any compelling reasons. If we could even make a case for the weakness being caused by something, we'd be forced to rely on unsatisfying explanations like technical corrections or a leveling off of the prevailing trend ahead of bigger-ticket data. All that having been said, today was unequivocally a leveling-off of the prevailing trend ahead of bigger ticket data. The focus is not so much on the 7-8bps of 10yr yield weakness on this data-free day, but rather on the 20-40bps of movement that could be seen in response to economic data and the Fed over the next 7 business days. Econ Data / EventsFactory Orders-3.6 vs -2.8 f'cast, +2.8 prev Market Movement Recap09:42 AM Moderately weaker overnight. Treasuries unresponsive to EU bond gains. 10yr up 5.7bps at 4.266. MBS down 10 ticks (.31). 11:23 AM Slightly weaker into 11am hour. MBS down 10 ticks (.31) and 10yr up 7.5bps at 4.284. 12:37 PM Worst levels of the day. 10yr yields up 8.8 bps at 4.297. MBS down 3/8ths. 02:24 PM sideways near weakest levels. MBS down 11 ticks (.34). 10yr up 8bps at 4.289.

December 4, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary A Bit of Meaningless Weakness. More Important Stuff On Deck A Bit of Meaningless Weakness. More Important Stuff On Deck Bonds lost ground to start the new week, but not for any compelling reasons. If we could even make a case for the weakness being caused by som... (read more) Mortgage Rate Watch Mortgage Rates Move Slightly Higher, But Still Effectively at 3-Month Lows Apart from this past Friday, you'd have to go back to September 1st to see lower mortgage rates than today. It probably makes the best sense to view last Friday as a slightly overdone rally as opposed to viewing today as some sort of ominous sh... (read more) Rob Chrisman TPO, Subservicing, Marketing, CRA Products; Training and Webinars; Podcast Interview with Dr. Elliot Eisenberg “People would learn more from their mistakes if they weren’t so busy denying them.” Here’s a little trivia for the compliance folks in the coffee room: The CFPB handles 20,000 consumer complaints per week, and given that financing a home, and then se... (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 6.50% +0.02 0.00 30 Yr. FHA 6.51% +0.01 0.00 30 Yr. Jumbo 7.60% 0.00 0.00 5/1 ARM 6.70% -0.02 0.00 30 Yr. VA 6.52% +0.02 0.00 Updates Daily - Last Update: 12/4 15 Yr. Fixed Rate 6.50% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 7.22% -0.07 0.00 15 Yr. Fixed 6.56% -0.11 0.00 Updates Weekly - Last Update: 11/30 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.37% -0.04 0.64 15 Yr. Fixed 6.88% -0.01 0.52 30 Yr. Jumbo 7.54% +0.03 0.62 Updates Weekly - Last Update: 11/29 MBS / Treasuries UMBS 30YR 6.0 100.53 -0.30 Price / Yield Change MBS UMBS 6.0 100.53 -0.30 UMBS 6.5 101.73 -0.23 GNMA 6.0 100.92 -0.22 GNMA 6.5 101.77 -0.20 Pricing as of: 12/4 5:31PM EST 10 Year US Treasury 4.2530 +0.0440 Price / Yield Change US Treasury 2 YR Treasury 4.633 +0.082 5 YR Treasury 4.208 +0.068 7 YR Treasury 4.272 +0.059 10 YR Treasury 4.253 +0.044 30 YR Treasury 4.411 +0.019 Pricing as of: 12/4 5:31PM EST Latest Video The Fed has 'lost control of the narrative' with expectations of a quick ra... Fed rate cuts won't happen until second half of 2024, says BNY Mellon's Mes... October factory orders fall 3.6% in biggest monthly tumble since April 2020 My hope is the Fed targets a 3% inflation instead of 2%, says Mohamed El-Er... Around the Web Reuters Underlying US inflation pressures eased in October - NY Fed Calculated Risk Blog Housing December 4th Weekly Update: Inventory Down 1.8% Week-over-week, Up 1.0% Year-over-year CNBC 2-year Treasury yield rises as investors assess path for interest rates Calculated Risk Blog ICE (Black Knight) Mortgage Monitor: "Home prices continued sending mixed signals in October" Calculated Risk Blog Update: Lumber Prices Up Slightly YoY Realtor.com The Top 10 Real Estate Markets of 2024: Youll Never Guess Which Ones Made the Cut CNBC CNBC Daily Open: Too early to be betting on rate cuts? reuters Federal Reserve Doves and Hawks Calculated Risk Blog Inflation Adjusted House Prices 3.0% Below Peak; Price-to-rent index is 6.9% below recent peak CNBC Fed Chair Powell calls talk of cutting rates 'premature' and says more hikes could happen Black Knight Digitizing Mortgage Servicing With A People First Approach Eye on Housing October Gains in Private Residential Construction Spending Calculated Risk Blog Construction Spending Increased 0.6% in October

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