Volatility has returned to the mortgage market in grand fashion this week with many lenders quoting rates that are as much as a quarter of a point higher than they were last week. That means if you were looking at something in the 2.75% neighborhood on Friday, it could be 3.0% today. What gives? The upward pressure is nothing new , really. It has existed in the broader bond market since August, but only recently began spilling over to the mortgage market. We've been discussing the increased risks of such a spillover in the event of a sharper bond market move and yesterday brought just such a move. Today was much more docile by comparison, but it didn't do anything heroic to push back against yesterday's weakness. Still, there could be some promise of stability in the fact that the bond market

February 17, 2021 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 Feb 17, 2021 Yes, Mortgage Rates are MUCH Higher This Week Wed, Feb 17, 2021 4:18PM Volatility has returned to the mortgage market in grand fashion this week with many lenders quoting rates that are as much as a quarter of a point higher than they were last week. That means if you were looking at something in the 2.75% neighborhood on Friday, it could be 3.0% today. What gives? The upward pressure is nothing new , really. It has existed in the broader bond market since August, but only recently began spilling over to the mortgage market. We've been discussing the increased risks of such a spillover in the event of a sharper bond market move and yesterday brought just such a m... (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 5.5 101.15 -0.13   97.47 101.61 UMBS 30YR 6.0 102.46 -0.08   99.66 102.50 10 YR Treasury 4.081 +0.042   3.621 4.780 MBS Live Recap: Looking For Silver Linings Despite Falling Sky Wed, Feb 17, 2021 4:13PM Looking For Silver Linings Despite Falling Sky After a huge day of snowball selling yesterday, bonds started out in weaker territory today.  Hugely strong Retail Sales data and sharply higher inflation told rates to keep on rising, but they quickly refused.  Several hours later, a decidedly weak 20yr bond a... (read more) MBS Price Change UMBS 5.0 99.54 -0.23 UMBS 5.5 101.13 -0.15 UMBS 6.0 102.43 -0.11 GNMA 5.0 99.86 -0.22 GNMA 5.5 101.12 -0.06 GNMA 6.0 102.05 -0.13 Pricing as of: 9/9 12:15PM EST US Treasury Yield Change 2 YR Treasury 3.543 +0.056 5 YR Treasury 3.610 +0.048 7 YR Treasury 3.815 +0.047 10 YR Treasury 4.087 +0.047 30 YR Treasury 4.736 +0.045 Pricing as of: 9/9 12:15PM EST Other News Mortgage Volumes Resume Downward Trend as Rates Rise Wed, Feb 17, 2021 8:15AM The volume of mortgage applications declined again last week, the fourth loss out of the six full weeks since the year began . The Mortgage Bankers Association (MBA says that its Market Composite Index, a measure of application volume, has lost an aggregate of 9.6 percent since the week ended January 1. In the most recent week, which ended February 12, the i... (read more) Buyer Demand Shores Up Builder Confidence Wed, Feb 17, 2021 11:40AM After dropping from record high levels by a total of 7 points over the last two months, the index that measures home builder confidence has stabilized. The Housing Market Index (HMI), produced by the National Association of Home Builders (NAHB) and Wells Fargo, rose 1 point in February to 84. "Demand conditions remain solid due to demographics, low mortgage ... (read more) Forbearance Relief Extended Through June Wed, Feb 17, 2021 9:33AM The White House announced on Tuesday that the various COVID-19 relief programs available through The Department of Housing and Urban Development, Veterans Administration, and the Department of Agriculture will be extended. The forbearance program, which allowed homeowners to postpone or reduce mortgage payments, was due to reach the final 12-month mark for m... (read more) Ops, MLO, Management Jobs; Broker, Non-QM, Communication Tools; AmeriHome/Western Alliance Deal Numbers Wed, Feb 17, 2021 9:47AM Time flies. President Biden extended FHA & VA mortgage relief and the ban on home foreclosures through June . Did you know that, at 46, Leonardo DiCaprio is now the same age as Steve Martin was when Steve made “Father of the Bride?” (Apparently, as my friend Jeff O. pointed out, time doesn’t fly for Leo’s girlfriends . Despite him... (read more) Latest Video Fed minutes highlight intention to keep rates low: Stifel chief economist Treasury yields rise, adding to fears of potential inflation Homebuilder sentiment rises despite surging lumber prices Industrial production rose 0.9% in January vs 0.5% increase expected Around the Web Reuters Share of U.S. workers holding multiple jobs is rising, new Census report shows CNBC Fed officials see economy 'far from' where it needs to be, meaning easy policy won't change soon, minutes show Reuters Nasdaq falls as big tech slides; Fed minutes in focus CNBC Wells Fargo shares jump after Fed reportedly approves bank's overhaul plan Calculated Risk Blog Industrial Production Increased 0.9 Percent in January Calculated Risk Blog The Housing Bubble and Mortgage Debt as Percent of GDP CNBC Retail sales surge 5.3% in January vs. 1.2% estimate CNBC Retail sales expected to be strong in January, helped by stimulus checks CNBC European markets edge lower as investors monitor rising U.S. Treasury yields Federal Reserve Fed Releases Minutes From Most Recent Policy Meeting Reuters Stimulus hopes drive Dow to closing peak but interest rate worries loom Reuters Recovery rally drives Dow to new peak Reuters Printed in days, a house: New York firm takes 3D printing to the next level

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 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. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.