After rising somewhat sharply yesterday, mortgage rates managed to find their footing on Friday's market session.  Bonds typically face more volatility risk when they have to digest scheduled economic data or major news headlines.  Today offered a light supply of both (especially econ data... there was none). As such, trading levels didn't drift far from Thursday afternoon's and the average mortgage lender was able to lower costs by just a hair.  The average borrower would still be seeing the same interest rate that was quoted yesterday, but possibly with microscopically lower upfront costs.  Note: rates were close enough to unchanged that those upfront costs could be slightly higher in some cases. Bigger volatility is a bigger risk next week surrounding the Fed's rate hike and the press conference with Fed Chair Powell. The rate hike is seen as a 100% certainty, so it's the press conference that will capture the attention of the bond market (and thus, "rates"). 

July 21, 2023 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Sideways to Slightly Lower After rising somewhat sharply yesterday, mortgage rates managed to find their footing on Friday's market session.  Bonds typically face more volatility risk when they have to digest scheduled economic data or major news headlines.  Today of... (read more) MBS Commentary Boring, Placeholder of a Day Boring, Placeholder of a Day Now that the riveting headline has your attention, you may be dismayed to learn that it really was only a boring, placeholder of a day.  Bonds started fairly flat, made some ... (read more) Rob Chrisman Lite Doc, Efficiency, 40-Year, HELOC Products; FHA, VA, USDA, HECM Agency and Investor News Isn’t ice cream a great food!? In fact, I worked in an ice cream plant in my early 20s. Did you know that Moose Tracks ice cream was named for a miniature golf course in Michigan's Upper Peninsula? Thank you to Carla M. who reminded me that July is N... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.89% -0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.89% -0.02 0.00 15 Yr. Fixed 6.21% -0.01 0.00 30 Yr. FHA 6.25% -0.04 0.00 30 Yr. Jumbo 7.00% -0.02 0.00 7/6 SOFR ARM 6.50% +0.05 0.00 30 Yr. VA 6.25% -0.05 0.00 Updates Daily - Last Update: 5/9 15 Yr. Fixed Rate 6.21% -0.01% 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 6.84% -0.05 0.68 15 Yr. Fixed 6.17% 0.00 0.65 30 Yr. Jumbo 6.86% -0.02 0.46 Updates Weekly - Last Update: 5/7 MBS / Treasuries UMBS 30YR 5.5 99.12 +0.01 Price / Yield Change MBS UMBS 5.5 99.12 +0.01 UMBS 6.0 100.94 -0.03 GNMA 5.5 99.40 +0.02 GNMA 6.0 100.69 -0.11 Pricing as of: 5/11 7:07AM EST 10 Year US Treasury 4.3848 +0.0078 Price / Yield Change US Treasury 2 YR Treasury 3.901 +0.028 5 YR Treasury 3.997 +0.011 7 YR Treasury 4.183 +0.001 10 YR Treasury 4.385 +0.008 30 YR Treasury 4.838 +0.005 Pricing as of: 5/11 7:07AM EST Latest Video Investors don't expect from surprises from the Fed next week, says Shannon ... Regional deposit competition 'very intense' in June as cost of deposits ros... Soft landing odds have improved but economy will see sluggish growth: Wells... Huntington Bank CEO on Q2 bank earnings, loan demand and the state of the c... Around the Web Marketwatch Bernanke says it is clear Fed will hike interest rates next week, but a September move is 'up for grabs' Calculated Risk Blog Black Knight: "Seriously Delinquent Mortgages Hit Lowest Level Since 2006" in June Calculated Risk Blog Q2 GDP Tracking: Around 2% CNBC Less than 5% of U.S. housing supply is accessible to older, disabled Americans. These changes may help vox Global Inflation Implications After Russia Scraps Black Sea Deal CNBC Treasury yields dip as investors consider monetary policy outlook CNBC Treasury yields rise as investors consider economic outlook Calculated Risk Blog NAR: Existing-Home Sales Decreased to 4.16 million SAAR in June; Median Prices Declined 0.9% YoY in June Calculated Risk Blog Lawler: Early Read on Existing Home Sales in June & 4th Look at Local Markets Federal Reserve Federal Reserve Board announces two enforcement actionsagainst Deutsche Bank AG, its New York branch, and other U.S.affiliates CNBC China says two policies to support business coming soon Calculated Risk Blog Hotels: Occupancy Rate Up 0.1% Year-over-year Calculated Risk Blog AIA: Architecture Billings "Stable" in June; Multi-family Billings Decline for 11th Consecutive Month

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