Friendly Fed Comments No Match For The Range The day began with a bond rally courtesy of geopolitical headlines (martial law declared in South Korea). Traders were done reacting to the news by 9am and yields were heading back up after that with a 10am push from stronger JOLTS data. There were several friendly comments from Fed speakers in the early afternoon, but they only materially benefitted the short end of the yield curve (i.e. 2yr yields are lower on the day while 10yr yields are several bps higher). The other way to view the move is simply that the bond market rallied as much as it was willing to rally by the end of last week and yields haven't been able to make any additional progress since then. Indeed, each of the past 3 trading sessions has seen a 10yr yield low of almost exactly 4.17%.  Tomorrow brings an important slate of econ data with ADP employment, ISM Services, and an afternoon Powell speech.  Econ Data / Events Job Openings 7.744m vs 7.480m f'cast, 7.372 prev Job Quits 3.326m vs 3.071m prev Market Movement Recap 09:36 AM Slightly weaker overnight, then stronger on geopolitical headlines.  MBS up 2 ticks (.06) and 10yr down 1.7bps at 4.177 10:55 AM At the lows of the day with MBS now unchanged and 10yr up 1.2bps at 4.206 02:48 PM Modest recover into 1pm hour, but back near same lows now.  MBS down 3 ticks (.09) and 10yr up 1.9bps at 4.213

December 3, 2024 Download our Mobile App: Download our Mobile App: MBS Commentary Friendly Fed Comments No Match For The Range Friendly Fed Comments No Match For The Range The day began with a bond rally courtesy of geopolitical headlines (martial law declared in South Korea). Traders were done reacting to the news by 9am and yields ... (read more) Mortgage Rate Watch Mortgage Rates Lower on Average, But Timing Matters The bond market is the primary driver of mortgage rate movement and normally, "weakness" equates to higher rates.  Bonds are slightly weaker today compared to yesterday afternoon, but mortgage rates nonetheless managed to move lower.  What ... (read more) Rob Chrisman Broker, DPA, Compliance, Subservicing Products; The Cost of Buying a Home; Thoughts of a Top LO Tis the season to have some fun, right? How about we start with this interesting musical duo? While the CFPB’s proposal addressing the selling of data has garnered some attention, with the Winter Solstice less than three weeks away and it isn’t exact... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.85% -0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.85% -0.06 0.00 15 Yr. Fixed 6.05% -0.07 0.00 30 Yr. FHA 6.18% -0.04 0.00 30 Yr. Jumbo 7.02% -0.03 0.00 7/6 SOFR ARM 6.75% -0.07 0.00 30 Yr. VA 6.20% -0.03 0.00 Updates Daily - Last Update: 12/3 15 Yr. Fixed Rate 6.05% -0.07% Rate Change Points Freddie Mac 30 Yr. Fixed 6.81% -0.03 0.00 15 Yr. Fixed 6.10% +0.08 0.00 Updates Weekly - Last Update: 11/27 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 99.79 +0.01 Price / Yield Change MBS UMBS 5.5 99.79 +0.01 UMBS 6.0 101.20 +0.02 GNMA 5.5 100.07 +0.01 GNMA 6.0 101.09 +0.09 Pricing as of: 12/4 3:00AM EST 10 Year US Treasury 4.2298 +0.0058 Price / Yield Change US Treasury 2 YR Treasury 4.167 -0.012 5 YR Treasury 4.108 -0.017 7 YR Treasury 4.168 +0.001 10 YR Treasury 4.230 +0.006 30 YR Treasury 4.412 +0.005 Pricing as of: 12/4 3:00AM EST Latest Video Fed Waller: Recent data raises the possibility inflation progress may have ... October job openings data beats expectations while new hires fall monthly Pending home sales rise 2% monthly 'Energy and lumber' are home builders' primary concerns around Canadian tar... Around the Web Reuters Fed's Kugler says inflation on path to 2% target, job market is solid CNBC Job openings jumped and hiring slumped in October, key labor report for the Fed shows forexlive Fed's Daly: December rate cut is absolutely not off the table Calculated Risk Blog FHFA Announces Baseline Conforming Loan Limit Will Increase to $806,500 CNBC Banks hit credit card users with higher rates in response to regulation that may never arrive Marketwatch Fed's Waller says he supports rate cut at next meeting - for now CNBC Here's what the rise of homeowners associations means for buyers Market Watch How Treasury yields are driving whether U.S. stocks beat the rest of the world Calculated Risk Blog CoreLogic: US Home Prices Increased 3.4% Year-over-year in October CNBC 10-year Treasury yield edges higher as investors await economic data, Fed speeches Eye on Housing Construction Labor Market Continues to Ease Calculated Risk Blog Freddie Mac House Price Index Increased in October; Up 3.7% Year-over-year Calculated Risk Blog Construction Spending Increased 0.4% in October

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