Weekly rates

Recent Updates:

Capital Markets Comment: UST10 at 4.35% this morning, rallying just a few bps on geopolitical tensions amid a market now expecting fewer rate cuts and more inflationary pressures. These pressures may be related to assumed new economic policy positions. This past week saw a Year over Year All Items CPI release at 2.6%, excluding food and energy, 3.3%, both right in line with market surveys, but representing reversals of the generally declining trends. We also had comments from Fed Chairman Powell to the effect that the path toward lower inflation could be bumpy and that the Fed was in no hurry to lower rates. CME FedWatch now shows a 60% chance of a 25bp rate cut in December versus an 80% chance of the same just a month ago. Meanwhile, primary securitization market issuance reached $109bn in volume, 35% higher than all of 2023's volume combined. This figure at the same time as real estate transactions (as measured by unit sales) were down 10%-26% year over year. That says to us that many borrowers are now accepting higher rates and moving to refinance rather than sell to complete their business plans.
‍
Click to View our Full Rate Sheet!
Rates are provided by Freddie Mac and Fannie Mae