Bonds Hold Ground Despite Unfriendly Econ Data If there was a prime directive for the bond market last week, it was to sell off regardless of any counterargument from the economic data.  The new week got off to a distinctly different start with stronger economic data only causing a temporary inconvenience for bonds.  Both MBS and Treasuries were pushed back in line with Friday's weakest level, but both found support in the PM hours before going on to make it back to unchanged territory, or close to it.  Volume was low and the volatility was small in the bigger picture, but at the very least, it was nice to see a different reaction than last week's default weakness.  Econ Data / Events NY Fed Manufacturing .20 vs 12 f'cast, 31.2 prev S&P Services PMI 58.5 vs 55.7 f'cast, 56.1 prev Market Movement Recap 09:46 AM Modestly stronger overnight, but giving up gains in domestic trading.  MBS up 2 ticks and 10yr down less than 1 bp at 4.385 12:15 PM Trying to bounce after hitting weakest levels.  MBS down 1 tick (.03) and 10yr up 0.7bps at 4.399 03:28 PM Off the weakest level.  MBS unchanged and 10yr 0.2bps higher at 4.394

December 16, 2024 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 16, 2024 Mortgage Rates Start New Week With Some Hope Mon, Dec 16, 2024 3:56PM Last week wasn't great for mortgage rates.  They moved higher on each of the 5 days.  Moreover, there was a distinct lack of logical motivation from the economic data.  In fact, on a few occasions, the data argued for lower rates only for things to move in the other direction by the end of the day. The new week is off to a different start.  Today's only relevant economic data argued in favor of higher rates, but the average lender ended the day in slightly lower territory compared to Friday afternoon.  Granted, it wasn't a big victory, by any means (many lenders are e... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 Bonds Hold Ground Despite Unfriendly Econ Data Mon, Dec 16, 2024 4:22PM Bonds Hold Ground Despite Unfriendly Econ Data If there was a prime directive for the bond market last week, it was to sell off regardless of any counterargument from the economic data.  The new week got off to a distinctly different start with stronger economic data only causing a temporary inconvenience for bo... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 8:26AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 8:26AM EST Other News Homebuyer Assistance, Pre-Qual, AI Tools; Webinars and Training; Fairway CEO Steve Jacobson Interview Mon, Dec 16, 2024 11:47AM You don’t become cooler with age, but you do care progressively less about being cool, which is the only true way of being cool. This is called the “Geezer’s Paradox.” People change, and so do industries. Things are always changing in our business. For example, take this plethora of mortgage law changes hitting Texas originators and lenders. Although ATR (Ab... (read more) Latest Video What to expect from the Fed in the coming year Fall of commercial real estate and New York City have been greatly exaggera... Hawkish Fed rhetoric will make markets 'do the tightening,' says Georgetown... Strong housing supply will be a laggard for homebuilders, says JPMorgan's M... Around the Web CNBC Here's what the Trump presidency could mean for the housing market, experts say Calculated Risk Blog 3rd Look at Local Housing Markets in November CNBC Treasury yields are little changed as investors prepare for a potential Fed rate cut CNBC Federal Reserve is likely to cut interest rates next week. Here's what that means for you Calculated Risk Blog Housing Dec 16th Weekly Update: Inventory down 1.1% Week-over-week, Up 26.6% Year-over-year Eye on Housing Single-Family Permits Up in October 2024 Fannie Mae Housing Market Unlikely to Thaw in 2025 Due to Affordability Challenges and 'Lock-in Effect' Calculated Risk Blog Part 2: Current State of the Housing Market; Overview for mid-December 2024 Marketwatch Treasury yields end at 2- to 3-week highs as Fed struggles with last mile of inflation fight Eye on Housing U.S. Trade Deficit: Balancing Act Still Yet to Appear Calculated Risk Blog Q3 Update: Delinquencies, Foreclosures and REO Eye on Housing Mortgage Activity Declines in November as Rates Continue to Increase Eye on Housing Import Data for Residential Construction Materials

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