Mortgage rates are most influenced by the bond market and the bond market is most influenced by the Federal Reserve (aka "The Fed"). So when the Fed says it expects rates to be "zero" at least until the end of 2023, does the same go for mortgage rates? That would be nice, but unfortunately, that's not how it works. The Fed dropped its policy rate to 0% back in March--the same place it had been for nearly 6 years after the financial crisis. Mortgage rates were in completely different territory during that time and they've often moved in the opposite direction since then. With this in mind, how can we say the Fed is so important to the bond market and mortgage rates? First off, there's a clue in the chart above. Although we can highlight time frames where the two rates moved in opposite directions

September 22, 2020 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Sep 22, 2020 Here's What The Fed's 0% Rate Outlook Means For Mortgages and Housing Fri, Sep 18, 2020 5:38PM Mortgage rates are most influenced by the bond market and the bond market is most influenced by the Federal Reserve (aka "The Fed"). So when the Fed says it expects rates to be "zero" at least until the end of 2023, does the same go for mortgage rates? That would be nice, but unfortunately, that's not how it works. The Fed dropped its policy rate to 0% back in March--the same place it had been for nearly 6 years after the financial crisis. Mortgage rates were in completely different territory during that time and they've often moved in the opposite direction since then. With this in mind, how ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.17 -0.11   97.47 101.61 UMBS 30YR 6.0 102.46 -0.07   99.66 102.50 10 YR Treasury 4.079 +0.040   3.621 4.780 MBS Live Recap: Floating, Locking, and Reasons For Sideways Rates (Including Politics) Tue, Sep 22, 2020 4:37PM Stocks vs Bonds; Bonds vs Supply There's a fairly strong case to be made for stock market weakness helping bond yields remain lower than they otherwise might be in September.  As such, we'll be watching the bond market's reaction very carefully in the event of a rebound.  Stocks notwithstanding, MBS... (read more) MBS Price Change UMBS 5.0 99.53 -0.25 UMBS 5.5 101.16 -0.13 UMBS 6.0 102.45 -0.09 GNMA 5.0 99.84 -0.24 GNMA 5.5 101.09 -0.09 GNMA 6.0 102.06 -0.12 Pricing as of: 9/9 12:52PM EST US Treasury Yield Change 2 YR Treasury 3.540 +0.052 5 YR Treasury 3.606 +0.044 7 YR Treasury 3.809 +0.040 10 YR Treasury 4.079 +0.040 30 YR Treasury 4.723 +0.033 Pricing as of: 9/9 12:52PM EST Other News Home Sales Surge to Best Levels in 14 Years Tue, Sep 22, 2020 11:26AM Existing home sales continued on a roll for the third consecutive month, hitting the highest level in August since December 2006. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhomes, condos, and cooperative apartment were at a seasonally adjusted annual rate of The August numbers came on top of a 24.7 perce... (read more) Homeowner Equity Surged in Q2 Tue, Sep 22, 2020 10:24AM There was another big surge in the amount of equity on the balance sheets of American homeowners in the second quarter of this year. CoreLogic reports that the 4.3 percent gain in home prices over the past year sent home equity shooting up by 6.6 percent. The report shows U.S. homeowners with mortgages (which account for roughly 63 percent of all properties)... (read more) Fannie's Forecast Sees a Brightening Recovery Mon, Sep 21, 2020 11:31AM Fannie Mae has upgraded its forecast for the third quarter gross domestic product (GDP). It now expects growth at an annualized pace of 30.4 percent , up from the 27.2 percent the company's economists predicted in August. They say that growth has clearly slowed from the days soon after the business shutdowns and orders to shelter in place were gradually lift... (read more) Ops, LO Jobs; ROI, Workflow, Underwriting Tools; Training; Improving Forbearance Stats Tue, Sep 22, 2020 9:11AM Today (Tuesday), while Washington DC “sucks the air out of the room,” welcome to the Autumn Solstice (Equinox) in the U.S., the day when the Sun appears to cross the celestial equator, heading southward. Others know it as halfway between the day with the most sunlight in June and the day with the least (December 22), or when night and day are the... (read more) Latest Video Bulk of market sell-off is due to disappointing Fed communication: Strategi... Fed chair Powell responds to questions about bank bailouts and business len... 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