{"id":8887,"date":"2020-02-25T17:57:29","date_gmt":"2020-02-25T17:57:29","guid":{"rendered":"https:\/\/intelliloan.com\/blog\/?p=8887"},"modified":"2024-10-16T19:15:57","modified_gmt":"2024-10-16T19:15:57","slug":"rate-markets-moving-lower-as-coronavirus-concerns-spike","status":"publish","type":"post","link":"https:\/\/intelliloan.com\/insights\/rate-markets-moving-lower-as-coronavirus-concerns-spike\/","title":{"rendered":"Rate Markets Moving Lower As Coronavirus Concerns Spike"},"content":{"rendered":"<h3>TODAY&#8217;S MORTGAGE RATE SUMMARY<\/h3>\n<h4>HOW RATES MOVE:<\/h4>\n<p>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<h4>RATES CURRENTLY TRENDING:\u00a0LOWER<\/h4>\n<p>Mortgage rates are moving slightly lower so far today.\u00a0\u00a0<strong>The MBS market improved by +18 bps yesterday.<\/strong>\u00a0This caused rates or fees to move lower for the day. The rates experienced moderate volatility yesterday.<\/p>\n<h4>TODAY&#8217;S RATE FORECAST:\u00a0LOWER<\/h4>\n<p><strong>Housing<\/strong>: December YOY Case Shiller 20 Metro City Home Price Index up 2.9% vs. est. of 2.8%. December FHFA MOM Housing Price Index up 0.6% vs. est. of 0.3%.<\/p>\n<p><strong>Manufacturing<\/strong>: February Richmond Fed Manufacturing Index -2 vs. est. of 13.<\/p>\n<p><strong>Consumer Confidence:\u00a0<\/strong>The Conference Board&#8217;s February survey came in at 130.7 vs. est. of 132.5.<\/p>\n<p><strong>Treasury Dump:\u00a0<\/strong>We kick off three straight days of dumping our debt into the market place with our shorter-term 2-year note.<\/p>\n<p><strong>Coronavirus<\/strong>: Here are the most recent headlines about the Cov-19 virus:<\/p>\n<ul>\n<li>Proctor and Gamble says over 17,000 products could see supply chain disruptions.<\/li>\n<li>Marc Lipsitch, Harvard epidemiology professor, says that the coronavirus is not containable and that 40-70 percent of people worldwide will likely be infected.<\/li>\n<li>Iranian Deputy Health Minister is infected with coronavirus.<\/li>\n<li>South Korean Crisis-Response Coordinator commits suicide as cases near 1,000, deaths hit 11, locks down the city of 2.5 million.<\/li>\n<li>Over 8,000 Californians are under &#8220;self-imposed quarantine.&#8221;<\/li>\n<li>European spread continues with Croatia, Austria, and Switzerland joining the list of confirmed cases.<\/li>\n<\/ul>\n<h4>TODAY&#8217;S POTENTIAL RATE VOLATILITY:\u00a0HIGH<\/h4>\n<p>Rate markets are getting concerned that the coronavirus will get out of hand. As a result, rates are trailing lower, and volatility is pushing higher. Look for this trend to continue until markets get a grip on how this is going to play out. Current economic releases mean very little in this environment.<\/p>\n<h4>BOTTOM LINE:<\/h4>\n<p>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<p><small>Source: TBWS<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TODAY&#8217;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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":9041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-8887","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\/8887","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=8887"}],"version-history":[{"count":1,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8887\/revisions"}],"predecessor-version":[{"id":9060,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/posts\/8887\/revisions\/9060"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media\/9041"}],"wp:attachment":[{"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/media?parent=8887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/categories?post=8887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/intelliloan.com\/insights\/wp-json\/wp\/v2\/tags?post=8887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}