Mortgage rates are most influenced by the bond market and the bond market is most influenced by the Federal Reserve (aka "The Fed"). So when the Fed says it expects rates to be "zero" at least until the end of 2023, does the same go for mortgage rates? That would be nice, but unfortunately, that's not how it works. The Fed dropped its policy rate to 0% back in March--the same place it had been for nearly 6 years after the financial crisis. Mortgage rates were in completely different territory during that time and they've often moved in the opposite direction since then. With this in mind, how can we say the Fed is so important to the bond market and mortgage rates? First off, there's a clue in the chart above. Although we can highlight time frames where the two rates moved in opposite directions

September 22, 2020 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Here's What The Fed's 0% Rate Outlook Means For Mortgages and Housing Mortgage rates are most influenced by the bond market and the bond market is most influenced by the Federal Reserve (aka "The Fed"). So when the Fed says it expects rates to be "zero" at least until the end of 2023, does the same go for mortgage rate... (read more) Housing News Home Sales Surge to Best Levels in 14 Years Existing home sales continued on a roll for the third consecutive month, hitting the highest level in August since December 2006. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhomes, condos, and coo... (read more) Housing News Homeowner Equity Surged in Q2 There was another big surge in the amount of equity on the balance sheets of American homeowners in the second quarter of this year. CoreLogic reports that the 4.3 percent gain in home prices over the past year sent home equity shooting up by 6.6 per... (read more) Rob Chrisman Ops, LO Jobs; ROI, Workflow, Underwriting Tools; Training; Improving Forbearance Stats Today (Tuesday), while Washington DC “sucks the air out of the room,” welcome to the Autumn Solstice (Equinox) in the U.S., the day when the Sun appears to cross the celestial equator, heading southward. Others know it as halfway between ... (read more) Housing News Fannie's Forecast Sees a Brightening Recovery Fannie Mae has upgraded its forecast for the third quarter gross domestic product (GDP). It now expects growth at an annualized pace of 30.4 percent , up from the 27.2 percent the company's economists predicted in August. They say that growth has cle... (read more) MBS Commentary MBS Live Recap: Floating, Locking, and Reasons For Sideways Rates (Including Politics) Stocks vs Bonds; Bonds vs Supply There's a fairly strong case to be made for stock market weakness helping bond yields remain lower than they otherwise might be in September.  As such, we'll be w... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% +0.02 0.00 15 Yr. Fixed 6.02% +0.03 0.00 30 Yr. FHA 6.34% +0.05 0.00 30 Yr. Jumbo 6.90% +0.01 0.00 7/6 SOFR ARM 6.45% +0.10 0.00 30 Yr. VA 6.35% +0.05 0.00 Updates Daily - Last Update: 7/8 15 Yr. Fixed Rate 6.02% +0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.44 -0.01 Price / Yield Change MBS UMBS 5.5 99.47 +0.01 UMBS 6.0 101.34 +0.01 GNMA 5.5 99.63 +0.01 GNMA 6.0 101.25 0.00 Pricing as of: 7/9 4:12AM EST 10 Year US Treasury 4.3993 -0.0069 Price / Yield Change US Treasury 2 YR Treasury 3.889 -0.006 5 YR Treasury 3.970 -0.001 7 YR Treasury 4.167 -0.008 10 YR Treasury 4.394 -0.012 30 YR Treasury 4.915 -0.012 Pricing as of: 7/9 4:12AM EST Latest Video Bulk of market sell-off is due to disappointing Fed communication: Strategi... Fed chair Powell responds to questions about bank bailouts and business len... More fiscal support is needed: Jerome Powell Powell, Mnuchin to testify before House Financial Services Committee Around the Web CNBC $300 unemployment benefits end in at least 9 states as stimulus hopes fade Calculated Risk Blog Comments on August Existing Home Sales CNBC If you're home-rich but cash-poor, here's what to know about reverse mortgages CNBC Powell pledges the Fed's economic aid 'for as long as it takes' Redfin Affordable Areas Outside Big Cities Are Heating Up the Fastest As the Pandemic Changes Homebuyers' Priorities NAHB Eye on Housing Home Values, Owners' Equity Rise in 2Q20 Calculated Risk Blog MBA Survey: "Share of Mortgage Loans in Forbearance Declines to 6.93%" Calculated Risk Blog Fed's Flow of Funds: Household Net Worth Increased $6.2 Trillion in Q2 CNBC House Democrats will unveil bill to avoid shutdown, fund government into December CNBC Government debt rose at a 59% pace in Q2 amid effort to halt virus Brookings Institution An Eviction Moratorium without Rental Assistance Hurts Smaller Landlords, Too CNBC Home equity surges as demand soars and mortgage rates hover near lows NAHB Eye on Housing Time to Build a Single-Family Home in 2019

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