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
Mortgage rates are moving sideways so far today.\u00a0\u00a0The MBS market worsened by -1 bps yesterday.<\/strong>\u00a0This caused rates or fees to mostly move sideways for the day. The rates experienced low volatility yesterday.<\/p>\n Inflation<\/strong>: The January Consumer Price Index was a little hotter than expected with the Headline CPI YOY at 2.5% vs. est. of 2.4% and the Core (ex-food and energy) YOY at 2.3% vs. est. of 2.2%.<\/p>\n Jobs<\/strong>: Initial Weekly Jobless Claims were lighter than expected (205K vs. est. of 210K). The more closely watched 4-week moving average remained at 212K.<\/p>\n Fed<\/strong>: Today, we hear from Robert Kaplan and John Williams. Also, Fed Governor Nominee Judy Shelton will be grilled by Senate Banking Committee on the way through her confirmation process.<\/p>\n Treasury Dump:\u00a0<\/strong>We have our 30-year bond auction at 1:00 am ET today.<\/p>\n Germany<\/strong>: CPI YOY 1.7% vs. est. of 1.7%<\/p>\n Rates once again yesterday moved sideways on muted volatility. We’re looking for the same today. While cases of the coronavirus continue to push higher, the risk-on trade (buying treasuries) seems to have abated.<\/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":9027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-8869","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\/8869","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=8869"}],"version-history":[{"count":1,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8869\/revisions"}],"predecessor-version":[{"id":9054,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8869\/revisions\/9054"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media\/9027"}],"wp:attachment":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media?parent=8869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/categories?post=8869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/tags?post=8869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}TODAY’S RATE FORECAST:\u00a0NEUTRAL<\/h4>\n
TODAY’S POTENTIAL RATE VOLATILITY:\u00a0LOW<\/h4>\n
BOTTOM LINE:<\/h4>\n