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 21, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Here's What The Fed's 0% Rate Outlook Means For Mortgages and Housing 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 rate... (read more) MBS Commentary MBS Live Recap: Stocks vs Bonds; Bonds vs Supply 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 w... (read more) Rob Chrisman MLO, Ops Jobs; Retention, Co-op Products; USDA Rural Conditional Commitments If you watch the news long enough, you see all kinds of interesting things. Cracker Barrel is adding alcohol to its menu? Yup! And you must watch this clip with Stephen Colbert working out with, and interviewing, the Notorious RBG (“Is a hot do... (read more) Housing News Fewer Homes Being Flipped, But Profits Are Up One out of every 15 home sales in the second quarter of the year were defined as "flips" by ATTOM Data Solutions. A flip is any arms-length transaction that occurred in the quarter where a previous arms-length transaction on the same property had occ... (read more) Housing News Forbearance Plan Count Continues to Shrink There was a fourth straight decline in the number of mortgage loans in forbearance during the week ended September 15. Black Knight says the total dropped by 26,000 or 0.7 percent to an estimated 3.7 million loans. That is down 22 percent from the pe... (read more) Housing News Refis Increased Slightly in August, FICO Scores Highest This Year The refinance share of loans originated in August rebounded slightly from July levels as interest rates fell to the lowest in Ellie Mae's history. The company's Origination Insight Report says the average rate on all loans fell to 3.09 percent during... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.68 +0.04 Price / Yield Change MBS UMBS 5.5 99.68 +0.03 UMBS 6.0 101.47 +0.03 GNMA 5.5 99.89 +0.03 GNMA 6.0 101.38 +0.03 Pricing as of: 7/7 6:55AM EST 10 Year US Treasury 4.3497 +0.0030 Price / Yield Change US Treasury 2 YR Treasury 3.870 -0.013 5 YR Treasury 3.930 -0.007 7 YR Treasury 4.123 -0.002 10 YR Treasury 4.351 +0.004 30 YR Treasury 4.880 +0.017 Pricing as of: 7/7 6:55AM EST Latest Video Home equity climbs amid the coronavirus pandemic National REIT Association Mid-Year Outlook: Real estate is seeing signs of ... S&P 500 paces for worst September since 2011. What two traders see ahead Consumer sentiment index comes in at 78.9 versus 74.5 estimated Around the Web CNBC House Democrats will unveil bill to avoid shutdown, fund government into December CNBC Government debt rose at a 59% pace in Q2 amid effort to halt virus CNBC Home equity surges as demand soars and mortgage rates hover near lows NAHB Eye on Housing Time to Build a Single-Family Home in 2019 NAHB Eye on Housing New York Led with Employment Gains in August Calculated Risk Blog CoreLogic: 1.7 Million Homes with Negative Equity in Q2 2020 Calculated Risk Blog Seven High Frequency Indicators for the Economy CNBC Treasury yields mixed with stimulus progress, Fed speakers in focus Calculated Risk Blog Sacramento Housing in August: Sales decline Slightly YoY, Active Inventory down 50% YoY Calculated Risk Blog Lawler: Early Read on Existing Home Sales in August CNBC Refinancing your mortgage will cost more thanks to an 'adverse market' fee CNBC Refinancing your mortgage will cost more thanks to an 'adverse market' fee CNBC Fed's Bullard says 'biggest growth quarter of all time' will lift inflation

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