Modestly Weaker But Ultimately Uneventful In terms of the realized volatility relative to potential volatility, this week turned out to be about as calm as we could have possibly imagined. It is truly stunning that we will not be able to look back on daily bond market charts and pick out the most interesting Fed meeting in years. As for Friday, it was void of data and serendipitously weaker for bonds. One could argue that it's a simple continuation of "selling the news" after "buying the rumor," but we'd argue motivations don't matter when we're only counting a few bps of weakness in 10yr yields that leave us at levels that are still lower than all but a a week and a half of the past year and a half. Econ Data / EventsJobless Claims 219k vs 230k f'cast, 231k prev Philly Fed Index1.7 vs -1.0 f'cast -7.0 prev Market Movement Recap09:50 AM Slightly weaker overnight with additional selling early. 10yr up 3.4bps at 3.746 and MBS down 2 ticks (.06) 10:38 AM Additional losses in 10am hour. MBS down 5 ticks (.16) and 10yr up 4.6bps at 3.757 12:01 PM Bouncing back on Waller comments. MBS down only 2 ticks (.06) and 10yr up 2.5bps at 3.737 04:05 PM Slipping a bit again with MBS down 5 ticks (.16) and 10yr up 2.6bps at 3.738
MBS Commentary | Modestly Weaker But Ultimately Uneventful | Modestly Weaker But Ultimately Uneventful In terms of the realized volatility relative to potential volatility, this week turned out to be about as calm as we could have possibly imagined. It is truly s... (read more) |
| Mortgage Rate Watch | The Wild Week That Wasn't | Credit where credit is due: the rate market did an outstanding job of getting out in front of the Fed rate cut as well as the changes to the Fed's rate cut outlook as communicated in the summary of economic projections (SEP). The SEP con... (read more) |
| | 30 Yr. Fixed Rate | 6.15% -0.02% |
| Rate | Change | Points |
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Mortgage News Daily | 30 Yr. Fixed | 6.15% | -0.02 | 0.00 | 15 Yr. Fixed | 5.59% | -0.06 | 0.00 | 30 Yr. FHA | 5.70% | -0.02 | 0.00 | 30 Yr. Jumbo | 6.38% | -0.02 | 0.00 | 7/6 SOFR ARM | 6.15% | +0.01 | 0.00 | 30 Yr. VA | 5.72% | -0.03 | 0.00 | Updates Daily - Last Update: 9/20 | |
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15 Yr. Fixed Rate | 5.59% -0.06% |
| Rate | Change | Points |
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Freddie Mac | 30 Yr. Fixed | 6.09% | -0.11 | 0.00 | 15 Yr. Fixed | 5.15% | -0.12 | 0.00 | Updates Weekly - Last Update: 9/19 | Rate | Change | Points |
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Mortgage Bankers Assoc. | 30 Yr. Fixed | 6.44% | -0.06 | 0.54 | 15 Yr. Fixed | 5.88% | -0.16 | 0.68 | 30 Yr. Jumbo | 6.75% | +0.07 | 0.39 | Updates Weekly - Last Update: 8/28 | |
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| UMBS 30YR 5.0 | 100.22 -0.15 |
| Price / Yield | Change |
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MBS | UMBS 5.0 | 100.22 | -0.15 | UMBS 5.5 | 101.39 | -0.14 | GNMA 5.0 | 100.33 | -0.09 | GNMA 5.5 | 101.10 | -0.12 | Pricing as of: 9/20 5:31PM EST | |
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10 Year US Treasury | 3.7423 +0.0306 |
| Price / Yield | Change |
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US Treasury | 2 YR Treasury | 3.591 | +0.010 | 5 YR Treasury | 3.498 | +0.008 | 7 YR Treasury | 3.612 | +0.022 | 10 YR Treasury | 3.742 | +0.031 | 30 YR Treasury | 4.084 | +0.036 | Pricing as of: 9/20 5:31PM EST | |
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