30 Year Fixed
3.78%    -0.02
15 Year Fixed
3.44%    -0.02
10YR Treasury
1.84%    -0.0069
FNMA 30YR 3.5
102.59    0.00
FNMA 15YR 2.5
102.16    +0.03
Nice Gains This Week, but Risks Remain
November 15, 2019
Market Summary

Mortgage rates moved sharply higher last week but managed to erase a good amount of those losses this week. 

In the slightly bigger picture, this week can be seen as the bond market's way of saying it's not quite ready yet to embark on a panicked race back toward higher rates.  The question remains: is that sort of panicked race in the cards, and if so, what's the time horizon?  If you'd asked me last week, I would have told you we need to prepare for the possibility that the panic had already set in.  One week later and the cautionary undertones aren't very different. 

While it's nice to see this week's resilience, bigger picture risks remain.  Ultimately, it will be up to economic data and trade-related developments to set the lion's share of the tone for rate momentum going forward.  To that end, unless unexpected trade headlines rock markets over the weekend, the most significant risks will come with the economic data at the end of the week.  

-Matt Graham, MortgageNewsDaily.com

30 Year Fixed Rate Mortgage
Week in Review
Rates shown below are based on the 30 Year Fixed Rate Mortgage
Beginning Average: 3.86%
Ending Average: 3.78%
Weekly Change: -0.08%
Yearly Change: -1.13%
Friday, November 8, 2019  :   3.86% (+0.01%)

Mortgage rates launched to their highest levels in more than 3 months yesterday for a variety of reasons.  Chief among them was a series of comments from both China and the US about the intent to cancel previously announced tariffs as a part of the phase 1 trade deal.  Tariffs and trade have been weighing on the economic outlook in a big way, and that's benefited interest rates.  Anything that lessens the weight has the opposite effect.

Tuesday, November 12, 2019  :   3.85% (-0.01%)

Mortgage rates had a bad October.  November hasn't exactly been great either, with last Thursday being one of the worst days of the year in terms of day-over-day jumps in rates.  In addition to the abrupt move, last week's weakness also brought rates in line with their highest levels in more than 3 months.


Wednesday, November 13, 2019  :   3.82% (-0.03%)

Mortgage rates have been more willing to move higher than lower recently.  While that may continue to be the case in the near-term future, there have been pockets of resistance to that trend.  The first 2 days of this week seem to be just such a pocket.


Thursday, November 14, 2019  :   3.80% (-0.02%)

Mortgage rates moved lower again today.  Whereas it was a bit easier to be dismissive about recent improvements, they're starting to add up at this point.  Granted, we're not talking about anything other than a return to the rates seen on November 6th, but for anyone who was rate shopping at the end of last week, that's a welcome change.

Friday, November 15, 2019  :   3.78% (-0.02%)

Mortgage rates finished the week in much better territory compared to last Friday.  Today only added modestly to that move, but the simple act of moving in a friendly direction feels like a major victory after coming toe to toe with the highest rates in more than 3 months (last week). 


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Today's Rates
Best Execution
Rate Change
30 Yr FRM 3.78% -0.02
15 Yr FRM 3.44% -0.02
FHA 30 Year Fixed 3.41% -0.02
Jumbo 30 Year Fixed 3.87% -0.02
5/1 Yr ARM 3.44% -0.01
Average Mortgage Rates
Rate Points Change
15 Yr. Fixed 3.79% 1.21 -0.12
30 Yr. Fixed 4.39% 1.12 -0.22
MBA **
30 Yr. Fixed 4.05% 0.37 +0.03
15 Yr. Fixed 3.40% 0.36 +0.01
30 Yr. Jumbo 4.01% 0.30 +0.05
30 Yr. FHA 3.83% 0.28 +0.04
5/1 ARM 3.43% 0.23 +0.14
Freddie Mac **
30 Yr. Fixed 3.75% 0.60 +0.06
15 Yr. Fixed 3.20% 0.50 +0.07
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.44% 0.40 +0.05
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
Secondary Markets
Price Change
30YR FNMA 3.0 101.30 -0.03
30YR FNMA 3.5 102.59 0.00
30YR GNMA 3.0 102.67 0.00
30YR GNMA 3.5 103.81 +0.09
15YR FNMA 3.0 102.16 +0.03
15YR FNMA 2.5 100.75 +0.02
Yield Change
2 YR 1.6142% +0.0228
5 YR 1.6534% +0.0250
10 YR 1.8359% -0.0069
30 YR 2.3083% +0.0057
Prices as of: 11/15/2019 5:06PM EST
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
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Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month.

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