Mortgage Rates Move Slightly Lower After Retail Sales Report

Additional Mid-Day Gains Independent of Data and Events Bonds traded the day in two distinct sections. First up was the reaction to the Retail Sales data with a logical rally following the weaker results. Gains weren't especially huge and a modest correction lasted until 11am. At that point, the second shift began with volume profiles suggesting position squaring ahead of Wednesday's holiday closure. The preponderance of Fed speakers could also have been deemed supportive, but the timing and trading volumes don't support that conclusion very well. This mini bull run ended with the 20yr bond auction which caused brief, 2-way trading without leaving a lasting impression. Bonds were flat after that. Econ Data / EventsRetail Sales0.1 vs 0.2 f'cast last month revised down to -0.2 from 0.0 Industrial Production 0.9 vs 0.3 f'cast, 0.0 prev Market Movement Recap08:46 AM flat overnight with a modest rally after Retail Sales. MBS up nearly a quarter point. 10yr down 4.3bps at 4.24. 10:21 AM Backtracking from AM gains a bit. 10yr down 2.2bps at 4.26. MBS up 3 ticks (.09). 01:08 PM stronger into the auction and little changed after. 10yr down 6.2bps at 4.22. MBS up a quarter point.

June 18, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Additional Mid-Day Gains Independent of Data and Events Additional Mid-Day Gains Independent of Data and Events Bonds traded the day in two distinct sections. First up was the reaction to the Retail Sales data with a logical rally following the weaker result... (read more) Mortgage Rate Watch Mortgage Rates Move Slightly Lower After Retail Sales Report Mortgage rates began the week with a modest move back up and over the 7% threshold, but managed to erase some of those losses today. The improvement followed this morning's Retail Sales data which came out weaker than expected. Mortgage rates ... (read more) Rob Chrisman Referral, Retention, Pre-Approval, DPA, Cybersecurity Products; Webinars and Training This Week It’s been 55 years since Bryan Adams’ Summer of ’69. (That’s 55 years prior to the latest CFPB action against a lender.) Here in Hawai’i, the population during that time has increased, but has leveled off in recent years at about 1.4 million (for per... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.02% -0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.02% -0.02 0.00 15 Yr. Fixed 6.42% -0.01 0.00 30 Yr. FHA 6.47% -0.03 0.00 30 Yr. Jumbo 7.24% -0.01 0.00 7/6 SOFR ARM 7.03% -0.01 0.00 30 Yr. VA 6.49% -0.03 0.00 Updates Daily - Last Update: 6/18 15 Yr. Fixed Rate 6.42% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.95% -0.04 0.00 15 Yr. Fixed 6.17% -0.12 0.00 Updates Weekly - Last Update: 6/13 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.02% -0.05 0.65 15 Yr. Fixed 6.60% -0.15 0.55 30 Yr. Jumbo 7.18% -0.03 0.54 Updates Weekly - Last Update: 6/12 MBS / Treasuries UMBS 30YR 5.5 99.34 +0.30 Price / Yield Change MBS UMBS 5.5 99.34 +0.30 UMBS 6.0 100.78 +0.21 GNMA 5.5 99.66 +0.14 GNMA 6.0 100.70 +0.14 Pricing as of: 6/18 5:31PM EST 10 Year US Treasury 4.2140 -0.0679 Price / Yield Change US Treasury 2 YR Treasury 4.706 -0.060 5 YR Treasury 4.235 -0.069 7 YR Treasury 4.214 -0.068 10 YR Treasury 4.214 -0.068 30 YR Treasury 4.347 -0.059 Pricing as of: 6/18 5:31PM EST Latest Video Consumer on the cusp of significant slowdown, says Santander's Stephen Stan... Fed's Collins warns against overreacting to good inflation data May retail sales rise 0.1%, weaker than expected April business inventories up by 0.3% Around the Web CNBC The Fed is 'playing with fire' by not cutting rates, says creator of 'Sahm Rule' recession indicator Eye on Housing U.S. Housholds Real Estate Asset Value Rises to Start 2024 CNBC American households have seen their purchasing power increase CNBC May retail sales rise 0.1%, weaker than expected Reuters Fed's Musalem signals wary approach to cutting rates in debut speech Marketwatch New St. Louis Fed president says first rate cut might not come for months - or even longer Calculated Risk Blog 4th Look at Local Housing Markets in May; California Home Sales Down 6% YoY in May Marketwatch Fed's Kugler sees interest-rate cut this year and says economy is 'moving in right direction' Marketwatch Fed's Barkin: More data is needed before any changes are made to interest rates Eye on Housing Single-Family Permits Holding Steady in April 2024 CNBC Treasury yields rise ahead of May retail sales data Calculated Risk Blog Industrial Production Increased 0.9% in May Calculated Risk Blog Retail Sales Increased 0.1% in May

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