Mortgage Rates Rapidly Recover This Week's Losses

One of the upsides of these weeks with boring, sideways movement in the rate market is that it doesn't take much of an improvement to undo several days of damage. Today brought just such an improvement, and not for any compelling or interesting reasons either! The average lender began the day at lower levels--already close to the best levels of the week. But as the bond market improved throughout the day, most lenders were able to make mid-day changes to their rate offerings. After incorporating those changes into our daily average, it easily dropped to the best levels of the week. Volatility could increase slightly next week amid the presence of much more economic data. The MOST relevant data won't show up until the first week of March, however, and that's when volatility risks are the highest, for better or worse.

February 23, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Rapidly Recover This Week's Losses One of the upsides of these weeks with boring, sideways movement in the rate market is that it doesn't take much of an improvement to undo several days of damage. Today brought just such an improvement, and not for any compelling or interesting... (read more) MBS Commentary Strong Friday For Bonds Helps Keep Sideways Vibes Intact Strong Friday For Bonds Helps Keep Sideways Vibes Intact Friday ended up being surprisingly strong for the bond market with the best rally of the week in the long end of the yield curve. European bonds ... (read more) Rob Chrisman Hedging, Guideline Search, VOI and VOE Tools; Rocket Earnings; Events and Training “Alexa, where’s my damn package?” (Page down 3-4 times to the video.) Life is full of surprises, good and bad. Rates aren’t a surprise… The U.S. Federal Reserve can only do so much about inflation. Geo-politics are a big deal, of course, and there is... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.08% -0.08% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.08% -0.08 0.00 15 Yr. Fixed 6.56% -0.02 0.00 30 Yr. FHA 6.64% -0.04 0.00 30 Yr. Jumbo 7.40% -0.02 0.00 7/6 SOFR ARM 6.85% +0.03 0.00 30 Yr. VA 6.67% -0.03 0.00 Updates Daily - Last Update: 2/23 15 Yr. Fixed Rate 6.56% -0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.90% +0.13 0.00 15 Yr. Fixed 6.29% +0.17 0.00 Updates Weekly - Last Update: 2/22 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.87% +0.07 0.65 15 Yr. Fixed 6.53% +0.12 0.94 30 Yr. Jumbo 7.00% +0.12 0.39 Updates Weekly - Last Update: 2/14 MBS / Treasuries UMBS 30YR 5.5 98.88 +0.34 Price / Yield Change MBS UMBS 5.5 98.88 +0.34 UMBS 6.0 100.36 +0.23 GNMA 5.5 99.30 +0.27 GNMA 6.0 100.42 +0.14 Pricing as of: 2/23 5:31PM EST 10 Year US Treasury 4.2480 -0.0830 Price / Yield Change US Treasury 2 YR Treasury 4.687 -0.027 5 YR Treasury 4.276 -0.057 7 YR Treasury 4.280 -0.073 10 YR Treasury 4.248 -0.083 30 YR Treasury 4.369 -0.095 Pricing as of: 2/23 5:31PM EST Latest Video Former SEC Chairman Jay Clayton: The inability of banks to consolidate has ... Spring season will see a significant increase in real estate inventory: Com... Existing home sales will see an upward tick this year, says Zelman's Ryan M... Jim Cramer: Nvidia CEO Jensen Huang is a bigger visionary than Elon Musk Around the Web Reuters Fed's Williams: rate cuts likely appropriate 'later this year' CNBC Credit card interest rates are at record highs. Cards have 'never been this expensive, CFPB says Calculated Risk Blog GDP Tracking: Q1 Boosted Slightly CNBC German central bank losses soar, wiping out risk provisions Calculated Risk Blog ICE: Mortgage Delinquency Rate Decreased in January Reuters Nvidia fuels worldwide stock frenzy, bond yields rise Reuters Euro zone bond yields fall after ECB speakers sound dovish note Marketwatch Fed's Harker: Don't look for any interest-rate cuts 'right now and right away' Eye on Housing Multifamily Missing Middle Construction Unchanged CNBC Treasury yields rise as investors consider monetary policy path CNBC Fed's Waller wants more evidence inflation is cooling before cutting interest rates CNBC Despite a tough market, Builders FirstSource CEO says housing demand is 'really strong' Fannie Mae Housing Activity Expected to Pick Up in 2024 as Rates Move Lower

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