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Jason Minnick
Broker, Market Elite Inc.
Broker
Market Elite Inc.
NMLS ID 1024739
43260 Garfield Rd, 250 Clinton Township, Michigan 48038
CONTACT ME
Contact Me
586-226-3200
Jason@marketelite.com
marketelite.com/
Jason@marketelite.com
marketelite.com/
CONTACT ME
Recent News
The Case of The Disappearing Rate Cuts
4/20/2024
Tame Week For Rates and Housing Data, But Change is Coming
3/29/2024
Rates Defend The Ceiling. High Stakes Week(s) Ahead
3/8/2024
Conflicting News on Rates, But Everyone Agrees on The Next Main Event
2/16/2024
Highest Mortgage Rates in More Than a Month, But There Are Silver Linings
1/26/2024
Calm Week to End Not-So-Calm Year
1/5/2024
What's at Stake With Next Week's Fed Announcement and Inflation Data?
12/15/2023
Cooler Inflation Prompts Big Shift in Rate Outlook
11/24/2023
Lots at Stake For Rates Next Week; Which Housing Report is Telling You The Truth?
11/3/2023
Rates Surge Toward 8% After Jobs Data; Can "Spreads" Help?
10/13/2023
If The Fed Didn't Hike, Why Did Mortgage Rates Hit Long Term Highs?
9/22/2023
Markets Were Anxious Over Powell, But Next Week Deserves More Attention
9/1/2023
Rates Are Officially Breaking The Rules, But Why?
8/11/2023
Rates Recover Rapidly After Inflation Data
7/21/2023
Mortgage Rates Jumped Over 7% This Week, Even if You Heard They Were 6.71%
6/30/2023
All About Ceilings
5/19/2023
Is There Really a New, Unfair Mortgage Tax on Those With High Credit?
4/28/2023
Calmer Markets; Are Home Prices Already Done Falling?
4/7/2023
How One Unexpected Event Completely Stole The Show This Week
3/17/2023
Rates Are Jumping Faster Than Most People Know
2/24/2023
Is The Housing Market Finally Bouncing Back?
2/3/2023
Markets Call The Fed's Bluff After Downbeat Data
1/13/2023
Mixed Signals in Housing Data and Small-Scale Volatility in Rates
12/23/2022
Rates Dream of Green Christmas With Help From The Fed
12/2/2022
Record Single Day Drop in Rates After Inflation Comes in Cooler
11/11/2022
20 Year High Rates as Inflation Persists. Any Hope in Sight?
10/21/2022
Mortgage Rates Closing in on 7%. Any Relief in Sight?
9/30/2022
Mortgage Rates Rose Sharply This Week
8/20/2022
The Real Reason Mortgage Rates Are Dropping at a Record Pace
7/29/2022
Don't Trust This Week's Mortgage Rate Headlines! (Except This One)
7/9/2022
2022 is Already The Worst Year For Rates Since 1979
6/17/2022
Big Shift in Housing Numbers. Scary or Welcome?
5/27/2022
Why Some Rate Quotes Are So Different And Why "Points" Are On The Rise
5/6/2022
Why Mortgage Rates Jumped Back Over 5% This Week
4/15/2022
Why Are Mortgage Rates Skyrocketing Toward 5%
3/28/2022
Staggeringly Big Rate Swings as Markets Remain Focused on Ukraine
3/5/2022
Mortgage Rates Leap Toward 4.0% After Jobs Report Shocker
2/11/2022
Making Sense of Rising Rates And The Risks Ahead
1/22/2022
Should We Be Worried?
12/10/2021
Mortgage Rates Are Actually Much Higher This Week
11/19/2021
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Read my reviews
Average Mortgage Rates
Mortgage News Daily
MBA
Freddie Mac
Rate
Change
Points
30 Yr. Fixed
7.28%
-0.09
--
15 Yr. Fixed
6.75%
-0.07
--
30 Yr. FHA
6.70%
-0.12
--
30 Yr. Jumbo
7.48%
-0.07
--
5/1 ARM
7.35%
-0.07
--
Source: Mortgage News Daily
Rate
Change
Points
30 Yr. Fixed
7.24%
+0.11
0.66
15 Yr. Fixed
6.75%
+0.11
0.64
30 Yr. FHA
7.01%
+0.11
0.94
30 Yr. Jumbo
7.45%
+0.05
0.56
5/1 ARM
6.64%
+0.12
0.87
Source: The Mortgage Bankers Association
Rate
Change
Points
30 Yr. Fixed
7.22%
-0.22
0.00
15 Yr. Fixed
6.47%
-0.29
0.00
Source: Freddie Mac
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Market Data
MBS
Price
Change
UMBS 5.5
98.29
+0.43
UMBS 6.0
100.09
+0.31
UMBS 6.5
101.59
+0.17
GNMA 5.5
99.03
+0.42
GNMA 6.0
101.03
+0.29
GNMA 6.5
101.78
+0.15
US Treasuries
Yield
Change
2 YR
4.819
0.000
5 YR
4.503
0.000
10 YR
4.514
0.000
30 YR
4.671
0.000
Pricing as of:
5/5 7:51PM
EST
Recent Housing Data
Value
Change
Mortgage Apps
Apr 24
196.7
-2.67%
Building Permits
Mar 1
1.46M
-3.95%
Housing Starts
Mar 1
1.32M
-13.15%
New Home Sales
Mar 1
693K
4.68%
Pending Home Sales
Feb 1
75.6
1.75%
Existing Home Sales
Feb 1
3.97M
-0.75%
Builder Confidence
Mar 1
51
6.25%
Economic Calendar
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