Mortgage Rates Much Steadier Today, But Still a Bit Higher

Mortgage rates jumped to their highest levels since late July yesterday. Underlying market movement wasn't readily attributable to any singular headline or economic report. Leading theories involve changes in election odds and more esoteric aspects of the bond market's plumbing. The damage was much easier to quantify as it resulted in one of the bigger single day jumps seen in 2024 and certainly the biggest jump that occurred in the absence of an immediately obvious, quantifiable reason. Today was much calmer although the average lender dialed rates up just a hair more. The day over day change was a modest 0.03%, bringing the average 30yr fixed rate up to 6.85% on top tier scenarios. In general, it's a good idea to plan for additional rate volatility through the first half of November at the very least.

October 22, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Much Steadier Today, But Still a Bit Higher Mortgage rates jumped to their highest levels since late July yesterday. Underlying market movement wasn't readily attributable to any singular headline or economic report. Leading theories involve changes in election odds and more esoter... (read more) MBS Commentary Off to a Better Start vs Monday (Not That The Bar Was High...) Monday was frustrating for the bond market. It was a medium large sell-off that would have made more sense as a flat, forgettable Monday. The only thing remotely resembling a consensus on the rationale is the notion that election odds tilted to... (read more) Rob Chrisman Servicing, Marketing, Valuation Products; Training and Webinars; STRATMOR's CD Workshop; Rocket and the DOJ “An eye for an eye, Tooth for a tooth. Vote for me and I'll set you free! Rap on, brother, rap on. Well, the only person talking about loving thy brother is the preacher. And it seems nobody's interested in learning, but the teacher. Segregation, dem... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.85% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.85% +0.03 0.00 15 Yr. Fixed 6.28% +0.09 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.95% +0.05 0.00 7/6 SOFR ARM 6.80% +0.05 0.00 30 Yr. VA 6.30% +0.05 0.00 Updates Daily - Last Update: 10/22 15 Yr. Fixed Rate 6.28% +0.09% Rate Change Points Freddie Mac 30 Yr. Fixed 6.44% +0.12 0.00 15 Yr. Fixed 5.63% +0.22 0.00 Updates Weekly - Last Update: 10/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.13% -0.03 0.57 15 Yr. Fixed 5.47% +0.05 0.52 30 Yr. Jumbo 6.47% +0.06 0.50 Updates Weekly - Last Update: 9/25 MBS / Treasuries UMBS 30YR 5.5 99.57 -0.02 Price / Yield Change MBS UMBS 5.5 99.57 -0.02 UMBS 6.0 101.09 -0.01 GNMA 5.5 99.93 +0.09 GNMA 6.0 100.91 -0.03 Pricing as of: 10/22 5:31PM EST 10 Year US Treasury 4.2046 +0.0025 Price / Yield Change US Treasury 2 YR Treasury 4.034 0.000 5 YR Treasury 4.004 +0.010 7 YR Treasury 4.101 +0.007 10 YR Treasury 4.205 +0.003 30 YR Treasury 4.496 -0.007 Pricing as of: 10/22 5:31PM EST Latest Video Interest rates are rising mostly because of higher term premium, says SMBC ... Paul Tudor Jones: We are going to be broke really quickly unless we get ser... The Fed will have two 25 bps cuts over the next two meetings, says PIMCO's ... Legendary investor Paul Tudor Jones: I am clearly not going to own any fixe... Around the Web Marketwatch 10-year Treasury yield close to three-month peak as U.S. deficit concerns linger CNBC The IRS unveils higher capital gains tax brackets for 2025 Marketwatch 10-year Treasury yield rising on potential 'red wave' election result that pushes up yields CNBC 10-year Treasury yield climbs above 4.2% after Fed officials' commentary Reuters Fed's Kashkari: Job market weakness could mean faster rate-cut pace Calculated Risk Blog California Home Sales Up 5% SA YoY in September Marketwatch Fed's Logan says 'strong and stable U.S. economy faces 'meaningful uncertainties' CNBC Biden extends student loan payment pause by 6 months for 8 million SAVE plan borrowers CNBC IMF says global fight against inflation is 'almost won' but warns of rising risks Eye on Housing Residential Clean Energy Credit Usage Calculated Risk Blog NMHC: "Apartment Market Conditions Continue to Loosen" CNBC U.S. crude oil prices rise nearly 1%, extend gains to above $71 per barrel Calculated Risk Blog Retail: October Seasonal Hiring vs. Holiday Retail Sales

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