It's Thursday and thus time once again to check in with Freddie Mac's weekly mortgage rate survey versus reality.  To be fair, it's not that Freddie isn't participating in reality.  It's just not the same version of reality you might prefer if you are in need of more timely updates on rate trends. Freddie logged a big increase over last week, which makes sense considering last week's survey was much lower than it should have been due to Freddie's methodology and timing (we discussed it here: https://www.mortgagenewsdaily.com/markets/mortgage-rates-03152024). This time around, Freddie's survey is averaging the 5 days from last Thursday through yesterday.  Today's rate is lower than all of those with the average lender back into the high 6's.   NOTE: Freddie also has their rate in the high 6's, but it tends to run much lower than the MND rate because it doesn't include any impact for points or special loan programs.  This is one of the many reasons we say the best way to follow a rate index is to observe the CHANGE over time as opposed to outright levels. 

March 21, 2024 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Mar 21, 2024 Mortgage Rates Are Actually LOWER This Week Thu, Mar 21, 2024 4:33PM It's Thursday and thus time once again to check in with Freddie Mac's weekly mortgage rate survey versus reality.  To be fair, it's not that Freddie isn't participating in reality.  It's just not the same version of reality you might prefer if you are in need of more timely updates on rate trends. Freddie logged a big increase over last week, which makes sense considering last week's survey was much lower than it should have been due to Freddie's methodology and timing (we discussed it here: https://www.mortgagenewsdaily.com/markets/mortgage-rates-03152024). This time around, Fredd... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 Ho-Hum Post-Fed Trading Day Thu, Mar 21, 2024 12:40PM The global trading community digested yesterday's Fed events in a relatively constructive way overnight.  Combined with lackluster manufacturing PMIs in Europe, it was enough for a moderate extension of yesterday's rally.  The morning trading hours in the U.S. have pushed back in the other direction, with the balance of economic data being str... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 1:34AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 1:34AM EST Other News Mandatory Execution, Accounting, Warehouse, TPO Products; STRATMOR on Comp; Upcoming Events and Training Thu, Mar 21, 2024 11:38AM “90 percent of bald people still own a comb; they just can't part with it.” Many companies that retained servicing in 2020 and 2021, complete with low interest rates and borrowers with large amounts of equity & abilities to repay, have made the decision to part with that servicing. Packages of servicing rights continue to hit the market. In a free market... (read more) Latest Video This week may be the week central banks stepped away from strict inflation ... The Fed will likely start cutting rates in June: BlackRock's Rick Rieder Fed Chair Powell: Rates are unlikely to go back down to pre-pandemic levels Canyon Partners' Josh Friedman: I don't see a reason why the Fed would have... Around the Web redfin Housing Market Update: Supply Climbs 5%, Biggest Increase in Nearly a Year CNBC February home sales spike 9.5%, the largest monthly gain in a year, as supply improves Eye on Housing Existing Home Sales Surge to One-Year High in February CNBC Fed raises GDP projections for 2024 but still sees three rate cuts in coming year Calculated Risk Blog Weekly Initial Unemployment Claims Decrease to 210,000 Calculated Risk Blog BofA "Should policy be set on OER if nobody pays it?" forexlive Comments from Fed's Powell organized by topic CNBC Bank of England holds interest rates at 5.25% CNBC Treasury yields fall as investors digest Fed policy guidance CNBC Fed meeting live updates: Traders await insight from central bank on the outlook for rate cuts Reuters Yields subdued before Fed's economic, interest rate projections CNBC Fed holds rates steady, as expected Calculated Risk Blog AIA: "Moderation in the Slowdown in Business Conditions at Architecture Firms"; Multi-family Billings Decline for 19th Consecutive Month

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