Yes, Mortgage Rates Are Now The Highest in More Than 20 Years, But Not Much Higher Than Yesterday

Bonds Came Here to Chew Gum and Sell Off, And They're All Out of Gum There comes a time in protracted bond market selling sprees where the momentum takes on a glacial quality. Intraday volatility may pay some heed to discrete big-ticket events, but the rest of the day is spent moving steadily toward higher yields in a mindless and disconnected way. The past week and a half is a perfect example and today was no exception. Yields were actually at their lows of the day an hour after the AM data, so we can't really blame it for the sell off that took 10s to the brink of their highest levels since 2007 (or mortgage rates to their highest levels in more than 20 years). Econ Data / EventsJobless Claims239k vs 240k f'cast, 248k prev Philly Fed12 vs -10 f'cast, -13.5 prev prices paid 20.8 vs 10.1 f'cast, 9.5 prev Market Movement Recap08:51 AM 10s up to 4.312 in Asia, but back under 4.3 in early US trading. MBS unchanged in 6.0 coupons, but illiquid at times (recently down 6 tick or 0.19). 10:07 AM Weakest levels now. MBS down a quarter point and 10yr up 4.4bps at 4.302. 02:38 PM Losses may be leveling off now after a bit more selling earlier. 10yr up 5.4bps at 4.312. MBS down 7 ticks (.22).

August 17, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary Bonds Came Here to Chew Gum and Sell Off, And They're All Out of Gum Bonds Came Here to Chew Gum and Sell Off, And They're All Out of Gum There comes a time in protracted bond market selling sprees where the momentum takes on a glacial quality. Intraday volatility may pa... (read more) Mortgage Rate Watch Yes, Mortgage Rates Are Now The Highest in More Than 20 Years, But Not Much Higher Than Yesterday Readers of financial news outside the mortgage industry are accustomed to getting their mortgage rate updates on a weekly basis. This has only recently started to change as other sources have caught onto the trend that we pioneered in 2009 when... (read more) Rob Chrisman TPO Geocoding, Warehouse, Fee Collection Products; CoreLogic Wildfire Report; STRATMOR Compensation Survey Time flies, and we’re more than halfway through the 3rd quarter. Few lenders and vendors look forward to heading into the autumn or winter of any year, and with the U.S. 10-year up to 4.30 percent, millions of borrowers content with low rates thanks ... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.37% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.37% +0.03 0.00 15 Yr. Fixed 6.75% +0.07 0.00 30 Yr. FHA 7.05% +0.05 0.00 30 Yr. Jumbo 7.30% +0.01 0.00 5/1 ARM 7.17% +0.02 0.00 30 Yr. VA 7.08% +0.04 0.00 Updates Daily - Last Update: 8/17 15 Yr. Fixed Rate 6.75% +0.07% Rate Change Points Freddie Mac 30 Yr. Fixed 7.09% +0.13 0.00 15 Yr. Fixed 6.46% +0.12 0.00 Updates Weekly - Last Update: 8/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.16% +0.07 0.68 15 Yr. Fixed 6.57% +0.06 0.94 30 Yr. Jumbo 7.11% +0.07 0.55 Updates Weekly - Last Update: 8/16 MBS / Treasuries UMBS 30YR 5.5 97.66 -0.08 Price / Yield Change MBS UMBS 5.5 97.66 -0.08 UMBS 6.0 99.38 -0.05 GNMA 5.5 97.91 -0.05 GNMA 6.0 99.50 -0.03 Pricing as of: 8/17 5:31PM EST 10 Year US Treasury 4.2820 +0.0240 Price / Yield Change US Treasury 2 YR Treasury 4.933 -0.036 5 YR Treasury 4.414 +0.009 7 YR Treasury 4.373 +0.018 10 YR Treasury 4.282 +0.024 30 YR Treasury 4.394 +0.038 Pricing as of: 8/17 5:31PM EST Latest Video It's too early to say the Fed is 'one and done' with rate hikes, says Roger... Our view is stocks still look a lot better than bonds, says BofA Securities... Wage growth won't mean a new inflationary spiral, says Wharton Professor Je... The overall economic trend is good for bonds and stocks, says Citi Global W... Around the Web Marketwatch Why Treasury yields keep rising, causing pain for stock-market investors CNBC Fed officials see 'upside risks' to inflation possibly leading to more rate hikes, minutes show Calculated Risk Blog Realtor.com Reports Weekly Active Inventory Down 8% YoY; New Listings Down 8% YoY CNBC 10-year Treasury yield rises as investors digest Fed meeting minutes Calculated Risk Blog Weekly Initial Unemployment Claims Decrease to 239,000 Atlanta Fed Atlanta Fed GDPNow Up To 5.8 Percent Eye on Housing Flat Readings for Townhouse Construction Eye on Housing Multifamily Developer Confidence in Positive Territory for Second Quarter Calculated Risk Blog CoreLogic: US Home Investor Share Remained High in Early Summer 2023 Calculated Risk Blog Housing Starts Increased to 1.452 million Annual Rate in July Calculated Risk Blog Industrial Production Increased 1.0% in July Eye on Housing Single-Family Starts Edge Higher in July but Rising Rate Concerns Persist Eye on Housing Slight Decline for Single-Family Built-for-Rent

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