by Calculated Risk on 11/21/2019 07:10:00 PM
Thursday, November 21, 2019
From Matthew Graham at MortgageNewsDaily: Mortgage Rates Steady Despite Bond Market Weakness
Mortgage rates spent a 2nd day with the average lender holding relatively steady. This follows a decent winning streak over the previous week and a half with the net effect being at least an eighth of a percent (.125%) improvement on the average conventional 30yr fixed quote.Click on graph for larger image.
Holding steady was a bit anticlimactic yesterday because the broader bond market (specifically, the benchmark US 10yr Treasury yield) indicated more improvement than we actually saw. That had a lot to do with the underperformance of bonds that specifically underlie mortgages (MBS or "mortgage-backed securities). But whereas MBS lagged Treasuries yesterday, they outperformed today, thus allowing lenders to keep rates unchanged even as 10yr yields moved moderately higher. [Today's Most Prevalent Rates For Top Tier Scenarios 30YR FIXED - 3.75%]
This graph from Mortgage News Daily shows mortgage rates since 2014.
This graph is interactive, and you could view mortgage rates back to the mid-1980s - click here for graph.
Posted by Calculated Risk on 11/21/2019 07:10:00 PM