Crazy, Scary Morning Gives Way to Moderate Gains The bond market gamed the Fed today, and won (i.e. the long end sold until the short end priced in lower rate hike odds). OK, perhaps it's not quite that simple, but it's not too much more complicated. The only potentially complicating factor would be the unknown extent of Japan's participation.  We know the Bank of Japan (BOJ) bought Yen aggressively enough that it could not have been done without selling USD-denominated assets, such as the massive stockpile of Treasuries it owns, but there's uncertainty as to how much of that could have been drawn from the Fed's RRP facility.   Market Movement Recap 09:18 AM Sharply weaker overnight and early this morning as bonds "break" in the long end (read more). 10yr up 5.4bps at 4.284 and MBS down about a quarter of a point.  10:05 AM The crazy act is working and MBS just turned green, up 2 ticks (.06) now.  10yr yields are up only 1.4 bps on the day at 4.246.   12:34 PM Plenty of volatility still, but MBS now up a quarter point and 10yr yields down almost 1bp at 4.225. 02:28 PM Fading a bit from the highs with MBS down .19 from the mid-day price plateau.  10yr yields are down 1.2bps on the day at 4.221.  04:40 PM Back near the best levels for MBS with only a few minutes left.  Up 10 ticks (.31).  10yr yields are flat near their lows, down 1.2bps at 4.221. 

October 21, 2022 Download our Mobile App: Download our Mobile App: MBS Commentary Crazy, Scary Morning Gives Way to Moderate Gains Crazy, Scary Morning Gives Way to Moderate Gains The bond market gamed the Fed today, and won (i.e. the long end sold until the short end priced in lower rate hike odds). OK, perhaps it's not quite that simpl... (read more) Rob Chrisman Servicing, Automation, Pricing, Property Data Products; Early November Events and Training Denver’s airport has the longest runway in the U.S. at 16,000 feet (3 miles). As thousands of vendors, with some lenders thrown in for good measure, and me, head to Nashville for the MBA’s conference this weekend through next Wednesday, I am reminded... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.91% +0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.91% +0.05 0.00 15 Yr. Fixed 6.22% +0.03 0.00 30 Yr. FHA 6.29% +0.04 0.00 30 Yr. Jumbo 7.02% +0.02 0.00 7/6 SOFR ARM 6.45% 0.00 0.00 30 Yr. VA 6.30% +0.03 0.00 Updates Daily - Last Update: 5/8 15 Yr. Fixed Rate 6.22% +0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.76% 0.00 0.00 15 Yr. Fixed 5.89% -0.03 0.00 Updates Weekly - Last Update: 5/8 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.89% -0.01 0.00 15 Yr. Fixed 6.17% -0.03 0.76 30 Yr. Jumbo 6.88% -0.02 0.60 Updates Weekly - Last Update: 4/30 MBS / Treasuries UMBS 30YR 5.5 99.11 0.00 Price / Yield Change MBS UMBS 5.5 99.11 0.00 UMBS 6.0 100.99 +0.02 GNMA 5.5 99.41 +0.03 GNMA 6.0 100.83 +0.04 Pricing as of: 5/9 5:07AM EST 10 Year US Treasury 4.3794 +0.0024 Price / Yield Change US Treasury 2 YR Treasury 3.864 -0.010 5 YR Treasury 3.981 -0.006 7 YR Treasury 4.172 -0.010 10 YR Treasury 4.379 +0.002 30 YR Treasury 4.853 +0.020 Pricing as of: 5/9 5:07AM EST Latest Video We believe housing is in a structural supply deficit, says Raymond James' H... San Francisco Fed's Daly: Next Fed hikes should be smaller than 75 BPS The 2pm Bond Report - October 21, 2022 The reversal in bonds today doesn't make a lot of sense, says DoubleLine's ... Around the Web BusinessWire Finance of America to Discontinue Forward Mortgage Originations Wall Street Journal Fed Set to Raise Rates by 0.75 Point and Debate Size of Future Hikes CNBC Rent got cheaper in September: Here are the 10 cities where it dropped the most CNBC IRS: These are your 401(k) and IRA contribution limits for 2023 Calculated Risk Blog Q3 GDP Tracking: In 2% Range CNBC Existing home sales fall to a 10-year low in September, as mortgage rates soar Calculated Risk Blog Total Housing Completions Will Increase About 6% in 2022 CNBC Fed's Harker sees 'lack of progress on inflation,' expects aggressive rate hikes ahead Calculated Risk Blog Realtor.com Reports Weekly Active Inventory Up 34% Year-over-year; New Listings Down 15% Calculated Risk Blog Black Knight: Mortgage Delinquency Rate decreased in September CNBC 3 charts showing the market turmoil wreaked during UK PM Liz Truss tenure CNBC 10-year Treasury climbs to fresh 14-year high CNBC British pound falls 1%, reversing the Liz Truss resignation bounce

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