Mortgage Rates Up About an Eighth of a Percent To Start The Week

For those who only want to be woken up when mortgage rates make a big move down into the 5% range or back up and over 7%, you're free to go. The most prevalently-quoted top tier 30yr fixed rates have started with "6" for months and it would take more than a day or two of fairly surprising volatility for that to change. That sort of volatility be a surprise because the market is locked smack dab in the middle of a very broad debate about inflation and economic growth. The questions at hand will require weeks and months of answers--not days. Inflation and economic growth matter to rates because those are two of the most fundamental inputs for the bond market and the bond market is the most fundamental input for mortgage rates. Today's little jump (roughly .125% in rate for 30yr fixed loans) happened for no particular reason. It's one of many similar pops and drops that have taken place INSIDE the broader sideways range. Meanwhile, that broader range--the one that keeps top tier 30yr rates mostly between 6 and 7%--has been intact since September 2022. The longevity of the range is a testament to the uncertainty surrounding what happens next for the economy and inflation.

May 15, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Up About an Eighth of a Percent To Start The Week For those who only want to be woken up when mortgage rates make a big move down into the 5% range or back up and over 7%, you're free to go. The most prevalently-quoted top tier 30yr fixed rates have started with "6" for months and it would tak... (read more) MBS Commentary Hurry Up And Wait Hurry Up And Wait The bond market is increasingly resigned to the fairly boring task of waiting to find out whether bulls or bears will be victorious in the battle over the nest big dose of directional moment... (read more) Rob Chrisman Appraisal Modernization, Cybersecurity, Non-QM, CRM Products; STRATMOR CU and Bank Forum “When I was young, I was poor. But after decades of hard work, I am no longer young.” The quip about “The greatest cause of death is birth” aside, we’re all going to die. The question is, “How?” It takes a while for statistics to catch up, but in 201... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% +0.12% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% +0.12 0.00 15 Yr. Fixed 6.04% +0.09 0.00 30 Yr. FHA 6.35% +0.10 0.00 30 Yr. Jumbo 6.38% +0.02 0.00 5/1 ARM 6.82% +0.04 0.00 30 Yr. VA 6.34% +0.09 0.00 Updates Daily - Last Update: 5/15 15 Yr. Fixed Rate 6.04% +0.09% Rate Change Points Freddie Mac 30 Yr. Fixed 6.35% -0.04 0.00 15 Yr. Fixed 5.75% -0.01 0.00 Updates Weekly - Last Update: 5/11 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.55% +0.12 0.63 15 Yr. Fixed 6.03% +0.14 0.56 30 Yr. Jumbo 6.40% +0.12 0.50 Updates Weekly - Last Update: 4/26 MBS / Treasuries UMBS 30YR 5.0 99.19 -0.09 Price / Yield Change MBS UMBS 5.0 99.19 -0.09 UMBS 5.5 100.53 -0.08 GNMA 5.0 99.39 -0.03 GNMA 5.5 100.36 -0.06 Pricing as of: 5/15 5:31PM EST 10 Year US Treasury 3.5080 +0.0450 Price / Yield Change US Treasury 2 YR Treasury 4.015 +0.024 5 YR Treasury 3.472 +0.026 7 YR Treasury 3.487 +0.033 10 YR Treasury 3.508 +0.045 30 YR Treasury 3.846 +0.063 Pricing as of: 5/15 5:31PM EST Latest Video Chicago Fed President Austan Goolsbee: Rate hikes effects still in the pipe... New York Fed: Household debt rises by 0.9% in Q1, smallest gain in two year... Market moves may ramp up as debt ceiling deadline approaches, says Goldman'... Regional banks are great investments for a two- or three-year time-horizon,... Around the Web FHFA FHFA Requests Input on the Enterprises’ Single-Family Pricing Framework Calculated Risk Blog 3rd Look at Local Housing Markets in April CNBC Consumer debt passes $17 trillion for the first time despite slide in mortgage demand Calculated Risk Blog NY Fed Q1 Report: Household Debt Increases, Mortgage Loan Growth Slows Eye on Housing Year-over-Year Decline for Single-Family Permits in March 2023 CNBC Fed's Bostic casts doubt on rate cuts this year even if there's a recession Calculated Risk Blog Housing May 15th Weekly Update: Inventory Increased 0.2% Week-over-week CNBC 10-year Treasury yield rises as investors await Fed speaker comments bbg Fraudulent Jobless Claims in Massachusetts Boosted Recent US Data Eye on Housing Lending Standards Tighten for Residential and Commercial Real Estate Loans in Q1 2023 Calculated Risk Blog Part 2: Current State of the Housing Market; Overview for mid-April The Basis Point Treasury chief Janet Yellen puts debt ceiling chaos into one critical sentence CNBC Fed Governor Philip Jefferson named as new vice chair to succeed Lael Brainard

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