Mortgage rates ended last week with an impressive drop to the lowest levels in more than a month and a half.  Today's rates ended up being the 2nd lowest over that time after the average lender moved to just slightly higher levels to start the new new week.  Top tier conventional 30yr fixed rates spent most of November over 7% but fell back into the high 6% range by the end of the month. Our rate index fell from 6.84 to 6.68 on Friday and moved up to 6.72 today.  Economic data is the key motivating factor for rate movement, in general, but there were no major economic reports today. Instead, we could say that investors are simply choosing to reinforce a range in the bond market (bonds dictate rates) as they wait for the week's most relevant data. In terms of economic reports, Wednesday's Consumer Price Index (CPI) has the most potential to cause volatility, for better or worse.

December 9, 2024 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Slightly Higher to Start New Week Mortgage rates ended last week with an impressive drop to the lowest levels in more than a month and a half.  Today's rates ended up being the 2nd lowest over that time after the average lender moved to just slightly higher levels to start the n... (read more) MBS Commentary Reinforcing The Range Up until last Friday, 10yr yields closed at 4.17% for 5 days in a row. While that's technically "resistance," we're not complaining considering that's more than 30bps below the highs from 2 weeks earlier. In fact, it's probably better for rates to co... (read more) Rob Chrisman Builder Monitoring, AMC, HELOC Products; Trigger Lead Bill; Training, Events, and Webinars “Wi-Fi outages are the new snow days!” Without the internet or cable, would we return to relying on newspapers, radios, and network channels for news? News has certainly spread that Senate Amendment 2358, aimed at cutting back abusive mortgage trigge... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.04% -0.10% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.04% -0.10 0.00 15 Yr. Fixed 6.43% -0.02 0.00 30 Yr. FHA 6.42% -0.08 0.00 30 Yr. Jumbo 7.28% -0.02 0.00 7/6 SOFR ARM 6.98% -0.05 0.00 30 Yr. VA 6.43% -0.09 0.00 Updates Daily - Last Update: 12/20 15 Yr. Fixed Rate 6.43% -0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.12 0.00 15 Yr. Fixed 5.92% +0.08 0.00 Updates Weekly - Last Update: 12/19 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 98.78 +0.26 Price / Yield Change MBS UMBS 5.5 98.78 +0.26 UMBS 6.0 100.54 +0.16 GNMA 5.5 99.26 +0.23 GNMA 6.0 100.66 +0.10 Pricing as of: 12/22 12:00PM EST 10 Year US Treasury 4.5147 -0.0560 Price / Yield Change US Treasury 2 YR Treasury 4.307 -0.005 5 YR Treasury 4.378 -0.047 7 YR Treasury 4.462 -0.052 10 YR Treasury 4.515 -0.056 30 YR Treasury 4.719 -0.021 Pricing as of: 12/22 12:00PM EST Latest Video New York Fed: Inflation expectations rise 0.1% Former Boston Fed Pres. Eric Rosengren: There are good reasons to pause Fed... Consumers are engaged but trying to find the best value, says Mastercard's ... Fed fund futures rally on November jobs report Around the Web CNBC Household finance outlook hits highest since February 2020 following Trump win, New York Fed survey shows CNBC The Fed slashed interest rates, but some credit card APRs aren't going down. Here's why Calculated Risk Blog ICE Mortgage Monitor: Refinance Activity Increased Especially for Rate/Term Refinances Calculated Risk Blog Housing Dec 9th Weekly Update: Inventory down 2.3% Week-over-week, Up 26.3% Year-over-year CNBC Treasury yields tick higher as traders continue to digest jobs data CNBC Heres where the jobs are for November 2024 in one chart Fannie Mae Consumer Housing Sentiment Up Significantly Year over Year Calculated Risk Blog 1st Look at Local Housing Markets in November; Another Year-over-year Sales Gain in November CNBC CFPB sues Comerica Bank for failing to administer federal benefits program Marketwatch Consumer sentiment rises in December, so do inflation concerns Calculated Risk Blog Q4 GDP Tracking: 2.1% to 3.3% Range Calculated Risk Blog Wholesale Used Car Prices Increased in November; Up 0.2% Year-over-year Calculated Risk Blog Leading Index for Commercial Real Estate Decreased 2% in November; Up 12% YoY

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