Mortgage rates repriced
Mortgage rates jumped roughly 25 basis points after recent inflation prints — the 30‑year averaged ~6.37% and the 15‑year ~5.87%, with typical refinance quotes near 6.90% and 6.04% respectively (x.com). Analysts call it a normal repricing post‑data and still recommend shoppers can save roughly 1% by shopping lenders aggressively (x.com).
The Mortgage Bankers Association’s contract rate rose to 6.43% in the week ended March 20, marking a third straight weekly increase in reported borrower costs. (bloomberg.com) (bloomberg.com) Freddie Mac’s Primary Mortgage Market Survey showed the weekly averages as of March 19 at a 30‑year FRM of 6.22% and a 15‑year FRM of 5.54%. (freddiemac.com) (freddiemac.com) Consumer‑facing marketplaces put refinance offers in the high‑6% area — Bankrate’s market snapshot lists a 30‑year refinance average near 6.64% while lender quote aggregators show 30‑year refi listings clustered in the high‑6s. (bankrate.com) (bankrate.com) A Treasury selloff helped force repricing: the 10‑year Treasury moved into the mid‑4% range this month, lifting MBS yields and prompting lenders to widen spreads and raise posted rates. (fred.stlouisfed.org) (fred.stlouisfed.org) Mortgage Bankers Association data and industry summaries show demand responding: total mortgage applications fell about 10.9% week‑over‑week and refinance applications dropped roughly 19% in mid‑March as rates stepped up. (mpamag.com) (mpamag.com) Mortgage News Daily’s real‑time index recorded a three‑day jump from about 6.09% to 6.41% and a roughly 27‑basis‑point weekly spike, illustrating the day‑to‑day volatility that triggered the repricing. (mortgagenewsdaily.com) (mortgagenewsdaily.com)
