Mortgage Rates Moving Back Up From 6 Week Lows

Mortgage rates hit their lowest levels in just over 6 weeks on Friday as investors braced for bad news in the banking sector. Such fears tend pull money out of the stock market and into bonds. Excess bond demand means lower rates, all other things being equal. After a weekend without any new bank drama, investors were able to move back in the other direction. News regarding the sale of most of Silicon Valley Bank's deposits and loans only added to the momentum. Why do mortgage rates care? Mortgages are based on bonds, so if the broader bond market is losing ground, so are mortgage rates. The average lender was down below 6.5% for a flawless 30yr fixed scenario on Friday, but is now back above.

March 27, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Moving Back Up From 6 Week Lows Mortgage rates hit their lowest levels in just over 6 weeks on Friday as investors braced for bad news in the banking sector. Such fears tend pull money out of the stock market and into bonds. Excess bond demand means lower rates, all oth... (read more) MBS Commentary Bonds Buyers Back Off as Banks Bounce Bonds Buyers Back Off as Banks Bounce Bank health continues to dominate the news cycle with investors buying bonds when things look shaky and selling when days go by without new drama. In addition ... (read more) Rob Chrisman Lead Source, Sales, Home Equity, Lien Release Products; FHA, VA, USDA, HUD News; Sterling and the DOJ “Once you lick the frosting off of a cupcake, it becomes a muffin. And muffins are healthy. You’re welcome.” Adding another expense to a transaction is certainly not welcome, yet that’s exactly what was voted into effect by residents of Los Angeles C... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.54% +0.16% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.54% +0.16 0.00 15 Yr. Fixed 5.98% +0.11 0.00 30 Yr. FHA 5.90% +0.20 0.00 30 Yr. Jumbo 5.98% +0.03 0.00 5/1 ARM 6.52% +0.07 0.00 30 Yr. VA 5.95% +0.20 0.00 Updates Daily - Last Update: 3/27 15 Yr. Fixed Rate 5.98% +0.11% Rate Change Points Freddie Mac 30 Yr. Fixed 6.42% -0.18 0.00 15 Yr. Fixed 5.68% -0.22 0.00 Updates Weekly - Last Update: 3/23 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.48% -0.23 0.66 15 Yr. Fixed 6.02% -0.12 0.60 30 Yr. Jumbo 6.30% -0.09 0.55 Updates Weekly - Last Update: 3/22 MBS / Treasuries UMBS 30YR 5.0 99.44 -0.66 Price / Yield Change MBS UMBS 5.0 99.44 -0.66 UMBS 5.5 100.78 -0.44 GNMA 5.0 99.80 -0.69 GNMA 5.5 100.97 -0.45 Pricing as of: 3/27 5:31PM EST 10 Year US Treasury 3.5336 +0.1616 Price / Yield Change US Treasury 2 YR Treasury 3.999 +0.232 5 YR Treasury 3.595 +0.187 7 YR Treasury 3.573 +0.173 10 YR Treasury 3.534 +0.162 30 YR Treasury 3.763 +0.119 Pricing as of: 3/27 5:31PM EST Latest Video There's a good chance the Fed is done hiking rates, says SoFi’s Liz Young Fed will have to 'capitulate' over interest rate hikes, says DoubleLine's J... U.S. sells $42 billion in two-year Treasury notes Deposit transfers from smaller banks to giants like JPMorgan has slowed, so... Around the Web The Basis Point U.S. homeowners have impressive 71% equity. But can buyers afford these values? CNBC Fed's Barr calls Silicon Valley Bank failure a 'textbook case of mismanagement' Calculated Risk Blog Housing March 27th Weekly Update: Inventory Decreased 0.3% Week-over-week CNBC Treasury yields rise as investors weigh banking sector developments CNBC First Citizens Bank to buy Silicon Valley Bank deposits and loans CNBC Fed's Kashkari says stress in banking sector brings the U.S. closer to recession CNBC Deutsche Bank is not the next Credit Suisse, analysts say as panic spreads Calculated Risk Blog Final Look at Local Housing Markets in February The Basis Point Newly built home prices $438,200 in March 2023. Can you afford this? Calculated Risk Blog Q1 GDP Tracking: Wide Range Calculated Risk Blog Hotels: Occupancy Rate Down 2.5% Compared to Same Week in 2019 American Bankers Assoc. ABA Report: Farm Bank Lending Increased to $103.1 Billion in2022 CNBC Europe's leaders battle banking crisis as market rout hangs over Brussels summit

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