Mortgage rates were perfectly unchanged today, on average.
Mortgage rates were perfectly unchanged today, on average. With that, they remain in line with the lowest levels in more than a year and very close to the lowest levels in more than 3 years. Recent momentum has been moderate and favorable. In the absence of big economic reports that are on hold due to the shutdown, bonds have taken cues from other developments like the new tariffs announced 2 weeks ago and the regional bank drama seen last week. These market movers would normally be operating in the background--perhaps not even meriting discussion--but the dearth of data and the generally narrow range makes their effects more noticeable. In thinking about the relatively uneventful return to long-term lows, it's good to remember that momentum comes and goes when it comes to rates and the bond market that drives them. Sometimes, a string of good luck is the only required catalyst for a token pull-back. Bonds are showing some fatigue as 10yr yields have pushed just under 4.0%. It may take some more convincing in the form of data or other events to motivate additional improvement.
Mortgage rates were perfectly unchanged today, on average. With that, they remain in line with the lowest levels in more than a year and very close to the lowest levels in more than 3 years. Recent momentum has been moderate and favorable. In the absence of big economic reports that are on hold due to the shutdown, bonds have taken cues from other developments like the new tariffs announced 2 weeks ago and the regional bank drama seen last week. These market movers would normally be operating in the background--perhaps not even meriting discussion--but the dearth of data an... (read more)
Think back to October 17th. MBS opened slightly weaker and ended the day down about an eighth of a point. That was the last time we had a weaker start, and there are some parallels to today. In both cases, the weakness was modest. In both cases, the previous session closed at the best levels in at least a month. In fact, yesterday's 5.0 MBS price... (read more)
“Why did the Tibetan Monks go to Las Vegas? They are very good at games of chants.” One topic among hallway chats with lenders here at the MBA Annual is keeping costs down. After all, everyone is selling, or putting their loans into portfolios, at roughly the same price, so whether a lender is doing $10 million a month or $1 billion a month, cost and efficie... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.
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