Published Date 12/13/2022
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 leaning lower today. The MBS market improved by +2 bps yesterday. This was not enough to decrease mortgage rates or fees. The market experienced moderate volatility yesterday.
Inflation: The headline November Consumer Price Index increased by 0.1% vs. est. of 0.3% on a MOM basis. YOY, it is up 7.1% vs. est. of 7.3%, the pace in October was 7.7%. Core (ex food and energy) CPI increased by 0.2% vs. est. of 0.3% on a MOM basis. YOY, it was up 6.0% vs. est. of 6.1%, it was 6.3% in October.
Treasury Sale: We have a very important 30 year Treasury bond auction at 1 pm ET.
This morning markets are getting a nice boost on the CPI data. Volatility started very high on the morning data and will likely moderate later in the day.
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.
Wymac Capital, Inc.
NMLS: NMLS: 290837 | Broker CalRE: 01150730
Wymac Capital, Inc.
346 Rheem Blvd #107, Moraga CA 94556
Company NMLS: 18766
Office: 925-937-4300
Email: russellm@wymac.com
Web: https://wymac.com
NMLS: NMLS: 290837 | Broker CalRE: 01150730