mortgage rate update

SteveBott

Joined: Jan 22, 2002

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4:50p, 2/13/24

AG

We had a pretty bad start for the week and on top of movement last week. The title in the link says it all

https://www.mortgagenewsdaily.com/markets/mortgage-rates-02132024

MAS444

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In reply to SteveBott • 5:04p, 2/13/24

AG

I appreciate this update as I'm anticipating a construction loan in a few months.

jja79

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5:33p, 2/13/24

AG

10 year has really spiked. Big change from last 2 weeks. Up 28 bps since 2/1. Based on some conversations I've heard the last couple of weeks with secondary marketing guys I think the market has expected this. Last comment I recall was higher for longer.

Medaggie

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8:47a, 2/14/24

can someone explain why arms have higher rates than a 30 yr which would make the Arms essentially a worthless product.

Jay@AgsReward.com

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In reply to Medaggie • 9:42a, 2/14/24

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AG

ARM's are priced on the short end of the yield curve while fixed rates are priced off the long end of the yield curve. Right now the yield curve is inverted meaning the short end is higher then the long end. Therefore no material rate advantage to a ARM unless it is VERY short like 6 months.

https://www.usbank.com/investing/financial-perspectives/market-news/treasury-yields-invert-as-investors-weigh-risk-of-recession.html

Sponsor Message: AgsReward.com - See Reviews and Check Our 5-Star Rating on Shopper Approved.

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jja79

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In reply to Medaggie • 10:03a, 2/14/24

AG

There are ARMs with better rates.

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MookieBlaylock

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2:50p, 2/17/24

AG

Broker fight

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