Published Date 11/19/2024
Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up.
Mortgage rates are moving sideways today. The MBS market improved by +15 bps yesterday. This was not enough to decrease mortgage rates or fees. The market experienced high volatility yesterday.
Housing: October Building Permits were 1.416M units on an annualized basis versus estimates of 1.400M. Housing Starts were 1.311M versus estimates of 1.300M.
The Fed: Today we will hear from Schmid.
Overseas: The G20 meeting in Europe is ongoing.
This morning markets are currently moving sideways. Volatility has started at moderate levels.
If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate, contact your mortgage professional to discuss it with them.
Source: TBWSAll information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
NMLS: 51519
Millenium Home Mortgage LLC
1719 Route 10 East, Suite 206, Parsippany NJ
Company NMLS: 51519
Office: 973-402-9112
Email: connie@mhmlender.com
NMLS: 51519
12/6/2024
You’re at work all day. But because of notifications you’ve received...... view more
12/3/2024
Just dump them. As you clear the table from those holiday feasts, it’s easy to s... view more
12/3/2024
South Korea has declared an Emergency Martial Law as the opposition party, claim... view more
12/2/2024
The cart before the horse? That’s what people used to say...... view more
12/2/2024
Last Friday the 10 year note fell 9 bps to 4.17%, the 2 year note -8 bp. Since l... view more
11/26/2024
Some things come and some things go, according to...... view more
11/26/2024
The Conference Board's November Consumer Confidence Index was in line with estim... view more
11/25/2024
Just when most Americans are feeling a major pinch in their wallets...... view more
11/25/2024
Interest rates and stock indexes on fire to begin the week. At 8:30 am ET this m... view more