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.<\/p>\n
Rates are moving slightly higher so far today.\u00a0\u00a0The MBS market worsened by -21 bps yesterday.<\/strong>\u00a0This caused rates or fees to move higher for the day. The rates experienced moderate volatility yesterday.<\/p>\n Jobs<\/strong>: Initial weekly jobless claims were lower than expected (214K vs. est. of 220K). The more closely watched 4-week moving average dropped to 224K from 233K.<\/p>\n Treasury Dump:<\/strong>\u00a0We will have our 30-year bond auction at 1:00 pm ET.<\/p>\n Trade War:<\/strong>\u00a0The media is reporting that China’s Vice Premier Lie He will be in Washing D.C. next week and sign the Phase One trade deal between the 13th and 15th.<\/p>\n China<\/strong>: CPI 0.0 vs. est. 0.3\/PPI -0.5% vs. est. of -0.4%<\/p>\n Germany<\/strong>: Industrial Production 1.1% vs. est. of 0.7%<\/p>\n Eurozone<\/strong>: Unemployment Rate 7.5% vs. est. of 7.5%<\/p>\n Rates are ticking higher due to the reduced risk that the Iran “conflict” will escalate along with the consistent drumbeat of positive economic news. While rates are sliding higher, we continue to trade in a very tight range on moderate volatility.<\/p>\n 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.<\/p>\n Source: TBWS<\/small><\/p>\n","protected":false},"excerpt":{"rendered":" TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: 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 […]<\/p>\n","protected":false},"author":2,"featured_media":9005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-8803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-intelliloan"],"_links":{"self":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/comments?post=8803"}],"version-history":[{"count":1,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8803\/revisions"}],"predecessor-version":[{"id":9010,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8803\/revisions\/9010"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media\/9005"}],"wp:attachment":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media?parent=8803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/categories?post=8803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/tags?post=8803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}TODAY’S RATE FORECAST:\u00a0NEUTRAL<\/h4>\n
TODAY’S POTENTIAL RATE VOLATILITY:\u00a0AVERAGE<\/h4>\n
BOTTOM LINE:<\/h4>\n