Mortgage rates didn't move much today, and markets have been very quiet due to the holiday week.  So we'll take a quick moment for a retrospective. In September 2022, 30yr fixed mortgage rates crested 7% for the first time in more than 2 decades. The following year saw rates move momentarily under 6% and over 8% before returning to 7% by December.  Surely, that broadly sideways performance in 2023 meant that a corner had been turned. Up until the past few months, 2024 indeed looked like a decisively more hopeful year.  To be fair, it was still better than 2023, but ultimately, just as sideways in the end. Will we find ourselves in the same position at the end of 2025? That depends on the state of the economy and inflation.  The latter is of critical importance.  Until and unless inflation sustainably returns to 2% or lower, longer term rates will have a very hard time making significant progress.  Even then, the U.S. will need to avoid and preferably reverse the post-pandemic trend of heavy issuance of Treasuries--something that keeps rates elevated regardless of inflation or the economy. If there's a saving grace, it's that this 3 year time frame (2022-2024) now looks a lot like 1980-1982 in terms of the trajectory of rates, and that was the big turning point for the only comparable episode in modern economic history.  

December 27, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Little Changed Today, This Year, And Over The Past 2 Years Mortgage rates didn't move much today, and markets have been very quiet due to the holiday week.  So we'll take a quick moment for a retrospective. In September 2022, 30yr fixed mortgage rates crested 7% for the first time in more than 2 decade... (read more) MBS Commentary Weaker in Europe, But Reasonably Resilient in Early US Trading Not that any of this week's trading activity matters in the bigger picture, but things have been reasonably resilient after Monday's selling.  Tuesday and Thursday saw more selling, but each day ended with a solid recovery.  Thursday was es... (read more) Rob Chrisman Processor Efficiency, Commercial Lending; Agency News; Tariff Primer for Lenders “I've just checked my home insurance policy and apparently if my blanket is stolen in the middle of the night, I’m not covered.” For many home owners, taxes and insurance now cost more every month than the mortgage. Is the cost of some imported merch... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.11% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.11% -0.01 0.00 15 Yr. Fixed 6.47% -0.01 0.00 30 Yr. FHA 6.45% -0.01 0.00 30 Yr. Jumbo 7.33% 0.00 0.00 7/6 SOFR ARM 7.02% -0.02 0.00 30 Yr. VA 6.46% -0.01 0.00 Updates Daily - Last Update: 12/27 15 Yr. Fixed Rate 6.47% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.85% +0.13 0.00 15 Yr. Fixed 6.00% +0.08 0.00 Updates Weekly - Last Update: 12/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.75% 0.00 0.66 15 Yr. Fixed 6.15% 0.00 0.71 30 Yr. Jumbo 6.86% 0.00 0.61 Updates Weekly - Last Update: 12/25 MBS / Treasuries UMBS 30YR 5.5 98.82 +0.35 Price / Yield Change MBS UMBS 5.5 98.79 +0.32 UMBS 6.0 100.60 +0.26 GNMA 5.5 99.31 +0.27 GNMA 6.0 100.76 +0.21 Pricing as of: 12/30 12:30PM EST 10 Year US Treasury 4.5517 -0.0746 Price / Yield Change US Treasury 2 YR Treasury 4.255 -0.071 5 YR Treasury 4.376 -0.086 7 YR Treasury 4.459 -0.082 10 YR Treasury 4.550 -0.077 30 YR Treasury 4.767 -0.054 Pricing as of: 12/30 12:30PM EST Latest Video 2025 bank M&A outlook: Here's what to expect US productivity boom could be a problem for Fed's rate easing Tariffs may not be as disruptive to the market rally as expected, says Anne... December growth data likely to be hotter-than-expected, says CFRA's Sam Sto... Around the Web CNBC 15 major U.S. cities where home prices have risen the most in 2024 Eye on Housing Top Posts Property Taxes by State: 2023 CNBC 10-year Treasury yield back above 4.6% after mixed jobless claims data Calculated Risk Blog FHFAs National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores Calculated Risk Blog Q4 GDP Tracking: 2.3% to 3.1% Calculated Risk Blog Question #9 for 2025: What will happen with house prices in 2025? Eye on Housing Top Posts Highest Paid Occupations in Construction in 2023 Marketwatch Jobless claims show no rise in layoffs in 2024. Don't expect the trend to end soon. Eye on Housing Top Posts The Age of the U.S. Housing Stock CNBC 10-year Treasury yield rises above 4.6% ahead of jobless claims Calculated Risk Blog Question #10 for 2025: Will inventory increase further in 2025? Market Watch Treasury yields rise as investors wait for jobless claims data Calculated Risk Blog Weekly Initial Unemployment Claims Decrease to 219,000

© 2024  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.