Yesterday afternoon's tariff announcement sent financial markets on a ride that ultimately resulted in sharply lower stock prices and moderately lower bond yields. Stocks don't always correlate with bond yields, but that has been a common pattern since late February. The correlation between bond yields and mortgage rates, on the other hand, is perpetual and nearly flawless. After all, "yield" is just another word for "rate."  Additionally, mortgage rates are based on mortgage-backed securities (MBS) which are basically bonds.  All that to say: rates have been benefitting from the market chaos that's been hurting stocks, and stocks got hurt quite a bit over the past 24 hours.  Considering the average 30yr fixed rate was already close to its lowest levels since mid October yesterday, it's no surprise to see an official breakout today. [thirtyyearmortgagerates] Tariffs and stock market volatility are not the only games in town for rates. Economic data is also very important and tomorrow's jobs report is typically the most important economic report of any given month. Depending on the results, it could help rates move even lower or bounce back up into the recent range. 

April 3, 2025 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Lowest Mortgage Rates in More Than 5 Months Yesterday afternoon's tariff announcement sent financial markets on a ride that ultimately resulted in sharply lower stock prices and moderately lower bond yields. Stocks don't always correlate with bond yields, but that has been a common pattern sin... (read more) MBS Commentary Global Markets in Flight to Safety After Tariff News While plenty of uncertainty remains over the finer points of Wednesday afternoon's tariff announcement, markets have heard enough to brace for impact on global trade. That "bracing" is being traded in the form of a flight to safety (sell stocks, buy ... (read more) Rob Chrisman Hedging, HMDA Dashboard, Verification Tools; Correspondent and Wholesale News: Battle of The Titans The Chinese curse, “May you live in interesting times” can easily be applied to the residential mortgage business in the last month or so. This week and yesterday was no exception, with some brokers benefitting from both Trump’s tariffs (fully expect... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.55% -0.08% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.55% -0.08 0.00 15 Yr. Fixed 5.97% -0.08 0.00 30 Yr. FHA 5.95% -0.12 0.00 30 Yr. Jumbo 6.70% -0.10 0.00 7/6 SOFR ARM 5.90% -0.20 0.00 30 Yr. VA 5.98% -0.11 0.00 Updates Daily - Last Update: 4/4 15 Yr. Fixed Rate 5.97% -0.08% Rate Change Points Freddie Mac 30 Yr. Fixed 6.64% -0.01 0.00 15 Yr. Fixed 5.82% -0.07 0.00 Updates Weekly - Last Update: 4/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.71% 0.00 0.00 Updates Weekly - Last Update: 4/2 MBS / Treasuries UMBS 30YR 5.5 100.42 +0.03 Price / Yield Change MBS UMBS 5.5 100.47 +0.08 UMBS 6.0 101.93 +0.09 GNMA 5.5 100.56 +0.02 GNMA 6.0 101.55 -0.05 Pricing as of: 4/4 3:12PM EST 10 Year US Treasury 4.0079 -0.0211 Price / Yield Change US Treasury 2 YR Treasury 3.664 -0.028 5 YR Treasury 3.703 -0.033 7 YR Treasury 3.827 -0.036 10 YR Treasury 3.989 -0.040 30 YR Treasury 4.398 -0.077 Pricing as of: 4/4 3:12PM EST Latest Video How Trump's tariffs will affect the U.S. economy Bond Report: Yields falling along with stocks Mortgage rates tumble on tariffs, but housing costs still near record high ISM non-manufacturing PMI 50.8 vs. 52.9 estimated Around the Web CNBC Mortgage rates tumble on tariffs, but housing costs still near record high CNBC The Federal Reserve is not likely to rescue markets and economy from tariff turmoil anytime soon Calculated Risk Blog ICE Mortgage Monitor: Home Prices Continue to Cool Calculated Risk Blog Trade Deficit decreased to $122.7 Billion in February Eye on Housing Manufactured Homes: An Alternative Means of Housing Supply Marketwatch Jobless claims fall to 7-week low, but watch out. Trade wars could hurt U.S. labor market. CNBC Treasury yields slide as Trump's tariffs raise concerns of a trade war CNBC Eight OPEC+ producers accelerate crude oil output hikes, pushing oil prices down 6% Calculated Risk Blog Moody's: Q1 2025 Apartment Vacancy Rate Highest Since 2010; Office Vacancy Rate at Record High Calculated Risk Blog March Employment Preview CNBC Mortgage rates and demand seem stuck in a holding pattern, as markets await tariff news CNBC Private companies added 155,000 jobs in March, more than expected, ADP says CNBC Manhattan's luxury real estate market sees best first quarter in six years

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