30-year fixed
7.17%−0.02
MND daily index · Sep 22 close
Wednesday, September 23, 2026Live check · 10:48 AM CT
Hot PMIs and rising oil push mortgage bonds sharply lower.
MBS Live's verified 10:08 AM CT alert showed UMBS 6.0 at 99.32, down 0.51, and the 10-year Treasury at 5.069%, up 0.113. Rising oil and stronger-than-expected S&P flash PMI data increased inflation and Fed-hike concerns. The latest published national 30-year index is Tuesday's 7.17%. Today's exact Element Daily Pricing Summary was verified at 10:32 AM CT, but its recipient-restricted scenario pricing is not reproduced here. Actual borrower pricing requires an executable scenario in approved company systems.
The national rate index is Tuesday's latest published close; today's bond indicators are a separate verified intraday snapshot. Neither is an OMG rate quote. Actual pricing depends on loan program, credit, LTV, property, points or credits, and lock term and must be run in approved company systems.
Internal ARM pricing reminder · verified company noticeWaterStone Bank ARM increases are now in effect.
Effective Aug. 3The verified Secondary Marketing notice raised the 7-year ARM by 0.25% and the 5-year ARM by 0.375% effective August 3. Confirm today's live scenario in Optimal Blue before quoting.
Internal lock special · received Monday 9:32 AM CT15-day WMC fixed-rate pricing can cover funding through September 30.
Effective Aug. 24Beginning August 24, eligible WMC fixed-rate purchase and refinance locks may use 15-day pricing with free requested extensions through September 30. The LO must email the Lock Desk; the extension is not automatic. ARMs, jumbo, bond, brokered, and investor-specific best- efforts products are excluded. This is an operational special—not a pricing-direction signal or borrower quote.
15-year fixed
6.83%Unchanged
MND daily index · Sep 22 close
7/6 SOFR ARM
6.72%−0.02
MND daily index · Sep 22 close
10-year Treasury
5.069%+0.113
MBS Live alert · Sep 23 at 10:08 AM CT
OHFA daily rates
Oklahoma down payment assistance pricing
Official updateEffective 10:00 AM CT · September 23, 2026
Verified OHFA daily comparison · September 23Five programs increased 0.125 percentage point.
Effective Sep. 23 at 10:00 AM CTGold Government, its special variant, Dream Government, Dream Government Zero, and Dream Freddie Zero each increased 0.125 percentage point. Gold Freddie, Gold Freddie special, and Dream Freddie were unchanged. OHFA's standard link email arrived at 8:48 AM CT. Direction comes from the verified September 23-to-September 22 official-page comparison, not the email alone.
| Program | Rate | DPA | Change · Sep 23 vs. Sep 22 |
|---|---|---|---|
| Gold GovernmentGovernment | 6.500% | 3.50% | ↑ 0.125 |
| Gold FreddieHFA Advantage | 6.875% | 3.50% | Unchanged |
| Gold Government4Schools / Shield / State Employees | 6.375% | 3.50% | ↑ 0.125 |
| Gold Freddie4Schools / Shield / State Employees | 6.750% | 3.50% | Unchanged |
| Dream GovernmentGovernment | 7.750% | 3.50% | ↑ 0.125 |
| Dream FreddieHFA Advantage | 8.125% | 3.50% | Unchanged |
| Dream Government ZeroNo down payment assistance | 7.250% | 0.00% | ↑ 0.125 |
| Dream Freddie ZeroNo down payment assistance | 7.500% | 0.00% | ↑ 0.125 |
Down payment assistance funding
What appears to be available right now.
Live balances are not public for every program. When a reliable remaining-funds figure is unavailable, this desk says so instead of estimating.
Reservation controls.Funding is not protected until the program administrator or reservation portal accepts the file. Never promise assistance from a website balance alone.
Downpayment Plus®No WMC funds confirmed
Treat the program as closed unless WMC confirms a reservation.
Not confirmedWMC funds available · Sep 23 check
Up to $10KForgivable grant · 5 years
$48M2026 bank-wide pool
WMC's May 28 notice said its 2026 allocation was exhausted and the program was closed. Four fallout reservations were briefly released July 3. No later WMC reopening notice was found through 10:48 AM CT September 23. FHLBank Chicago added $17 million bank-wide on July 28, bringing its combined 2026 pool to $48 million. That broader pool does not confirm a new Waterstone allocation. Verify an available WMC reservation internally before discussing DPP with a borrower.
Verify the FHLBank updateTHA / Housing Partners of TulsaCall to confirm
No live remaining-funds figure is publicly posted.
Not postedPublic HPT balance · Sep 23 check
Not postedAmount + assistance structure
HPT's official program page says down payment and closing cost assistance may be available and that restrictions apply, but it does not identify the assistance as a grant, forgivable second, deferred second, or another structure and does not show open reservations or dollars remaining. Separately, Tulsa's 2026–27 plan targets HOME assistance for 15 first-time buyers through Habitat for Humanity; that target is not a live THA/HPT balance. Call HPT to confirm current terms.
Tulsa County First HomePublic fallout waitlist
Portal confirmation is required; no live public balance is posted.
Not publicly postedCurrent balance · Sep 23 check
3.50%DPA amount
6.350%Posted lock rate
A verified Stifel administrator notice sent August 24 said loan cancellations had made approximately $630,000 available first come, first served. That amount is not a current remaining balance. The public eHousingPlus page still says “waitlist is available for fallout” and does not publish dollars remaining. Treat the older email amount as historical availability—not protected funds—and confirm the exact reservation path in the administrator portal. The program serves eligible Tulsa County buyers using FHA, USDA, or VA financing; its 3.50% assistance is a 0% five-year forgivable second mortgage, not a grant. Tulsa County HFA is separate from Tulsa Housing Authority.
Verify current funds and rateFunding, rates, eligibility, and administrator rules can change without notice. Recheck the official source and approved lender systems for the specific borrower before a preapproval, contract, or client conversation.
Forecast + housing pulse
National outlook. Tulsa reality.
Public, attributed market indicators only. Paid MBS Highway commentary, charts, alerts, and subscriber tools are excluded.
MBS Highway · public housing indexJuly 2026
Housing momentum cooled again in July.
32National index
33Buyer activity
32Price direction
Each reading is below 50, MBS Highway's contraction line. The takeaway for the team is slower national momentum—not a prediction that every Tulsa neighborhood or price range is moving the same way.
Mortgage Bankers AssociationJune 22 forecast
MBA expects the 30-year rate to stay near the mid-6s.
6.5%Q3 2026
6.5%Q4 2026
6.5%2027 average
Use the forecast as a planning baseline, not a promised path. Actual daily pricing can move well above or below a quarterly average, and MBA's benchmark is Freddie Mac's 30-year fixed survey—not an OMG borrower quote.
Open the MBA forecast ↗Tulsa metro · MLS TechnologyLatest public report: June 2026
June sales increased while inventory tightened year over year.
$339,185Average sale price
38.74Average DOM
3.05 mo.Months of inventory
~93 daysInventory equivalent
June statistics—not live August market data.This is the newest 2026 Tulsa-metro MSA Average report in the public MLS Technology archive. It covers June activity and was last updated July 14, 2026.
The report covers residential property across Creek, Okmulgee, Osage, Pawnee, Rogers, Tulsa, and Wagoner counties. June closed listings rose 15.23% year over year, while active inventory fell 7.58%. Statistics are preliminary, deemed reliable but not guaranteed, and do not reflect every neighborhood equally.
Open the verified MLS report ↗Public-source summaries are attributed and linked. Forecasts are estimates, local MLS figures are preliminary and deemed reliable but not guaranteed, and no third-party metric replaces live WMC pricing or a borrower-specific analysis.
Latest market story · Wednesday late morning
Hot PMIs and rising oil trigger a sharp bond selloff.
MBS Live's verified 10:08 AM CT alert showed UMBS 6.0 at 99.32, down 0.51, and the 10-year Treasury at 5.069%, up 0.113. The move followed rising oil and S&P flash PMI data showing unexpectedly strong services and manufacturing activity.
The Fed raised its target range 0.25 percentage point to 3.75%–4.00% last Wednesday. Today's strong activity data and oil pressure pushed markets toward greater odds of additional tightening. MBS Live warned that sheets were likely to be substantially worse and that lenders already out could consider negative reprices. WMC's Lock Desk confirmed fixed-product pricing active in Optimal Blue at 9:40 AM CT; that notice confirms availability only and does not prove improvement, worsening, or a borrower's rate.
The latest published MND 30-year index is Tuesday's 7.17%, down 0.02 percentage point. Wednesday's selloff demonstrates how quickly current lender pricing can diverge from a prior close. Protect workable executable terms when the timeline is short or the payment is sensitive; any float needs a written loss limit and a firm review deadline.
Next major scheduled test
Thu24September
New-home sales, then durable-goods orders
New-home sales Thu 9:00 AM CT · durable goods Fri 7:30 AM CT
- August new-home sales arrive Thursday, September 24.
- August durable-goods orders arrive Friday, September 25.
- Oil, fiscal concerns, Treasury supply, and geopolitics remain live variables.
- Mortgage rates follow MBS and longer-term yields—not the Fed's overnight rate directly.
Live desk pulse · checked 10:48 AM CTSharply weaker · negative reprice risk
WMC availabilityActive · verified 9:40 AM CT
UMBS 6.099.32 −0.51
10-year5.069% +0.113
Live charts ↗Daily pricing summaries
Company pricing emails after the morning report.
Outlook folder · Inbox/Daily Pricing SummaryToday’s pricing email is verified in Jessica’s connected Outlook account
Checked 10:48 AM CT · September 23, 2026Element’s complete report was received at 10:32 AM CT and carries a 10:08 AM report timestamp on September 23. Its exact scenario rates, prices, products, APRs, assumptions, points, and credits are intentionally not republished here because the report states that its pricing is unique to the recipient and may not be shared. This confirmation is not a loan quote.
- Verified subject
- “Your Daily Pricing Summary Report”
- Verified sender
- Element@WaterstoneMortgage.com
- Report timing
- Received 10:32 AM CT · report timestamp 10:08 AM · Sep. 23
- Next action
- Run the borrower’s live scenario in approved company systems
- Privacy rule
- Recipient-restricted Element pricing stays in Element
- Quote status
- Not a loan quote
- Rates, APR, assumptions, points or credits
- Not republished because the report prohibits sharing
Today's LockDesk message confirmed updated WMC FNMA, FHLMC, FHA, VA, and USDA fixed pricing was active in Optimal Blue at 9:40 AM CT. The notice confirms availability only; it does not prove improvement, worsening, market movement, rate direction, or a borrower's quote. Verify the actual borrower in approved company systems.
The exact folder, subject, sender, date, and full message body were verified in Jessica's connected Outlook account. Because the report labels its pricing as unique to the recipient and not shareable, its rates, APRs, prices, products, scenario assumptions, points, and credits are not republished on this page. Price every borrower live in approved company systems.
The verified alert showed UMBS 6.0 at 99.32, down 0.51, and the 10-year Treasury at 5.069%, up 0.113 after hotter PMI data and rising oil drove a sharp selloff. MBS Live warned of likely negative-reprice risk for lenders already in the market. These indicators show market movement but do not establish a borrower's rate.
The exact weekday refresh runs at 10:45 AM CT. It searches the “Daily Pricing Summary” Outlook folder first, then all accessible mail for the exact or close report subject. The Desk may confirm receipt and freshness, but recipient-restricted Element scenario pricing remains in Element and is never republished here.
Underwriting + product intelligence
Pertinent updates from the team inbox.
Current, broadly useful guidance from Melissa Ferenc's “Did You Know?” emails and Margaret Carley's product updates. Borrower-specific threads and non-actionable messages are intentionally excluded. Margaret's September 18 internal-only email states only that 90% investment-property financing has arrived; it provides no written terms safe to republish and is not a borrower approval or quote. The September 15 IS update moved new AccountChek orders to IR AccountChek beginning September 21. Melissa's September 9 AUS alert remains the newest broadly applicable Melissa guidance. No newer broadly applicable Melissa or Margaret notice was found through 10:48 AM CT today.
Internal team resourceMargaret's Reel Talk videos are marked internal-only. Do not forward the videos, copy their language into public marketing, or present a headline as a confirmed program term.
90% investment-property financing headline received; written terms were not provided.
Margaret’s verified email states only that 90% investment-property financing has arrived and links to a video marked internal use only. The email contains no written eligibility, LTV calculation, loan amount, reserve, documentation, property, investor, pricing, or underwriting terms. The video and link are not reproduced here, and the headline is not a borrower approval or quote.
Team actionOpen the original internal message, then validate Product411, the current product matrix, investor guide, AUS findings, underwriting, and live pricing before discussing an actual file
New AccountChek orders move to IR AccountChek on September 21.
Beginning September 21, select “IR AccountChek” for new orders. The legacy “AccountChek 3n1” option will be decommissioned for new orders and will return an error if selected, while existing 3n1 orders remain accessible through December. The first new-login attempt requires the user’s email address and AccountChek password. WMC’s preferred verification-of-assets vendor remains Argyle.
Team actionUse IR AccountChek for new orders beginning September 21; retain 3n1 only to access existing orders, and use Argyle when appropriate
Keep the pre-Fed pipeline-audit discipline after the event.
The verified September 15 note asked teams to review every floating file before the September 16 Fed decision. That event has passed, but yesterday’s sharp two-way move and today’s rebound reinforce the same workflow: use live executable pricing, contact the borrower, and document the agreed risk guardrail. The email is not a current direction signal or a guarantee.
Team actionReview every floating loan against live pricing and document the borrower’s loss limit, target, and next review deadline
Open the official Fed calendar MGIC now supports WMC’s increased conforming loan limits.
MGIC joined National MI in supporting eligible WMC conforming loans above 80% LTV, up to 95% LTV, when mortgage insurance is required. Standard maximum LTV limits by transaction and property type still apply, along with all program and AUS requirements; the notice did not change those rules.
Team actionCheck both MI providers for quotes, then validate the current WMC matrix, loan limits, AUS findings, and investor requirements
VantageScore 4.0 is planned for a WMC pilot—not yet a companywide release.
Fannie Mae and Freddie Mac permit approved lenders to use VantageScore 4.0 on eligible loans, but WMC’s notice says to wait for the pilot rollout. A higher score may not improve agency pricing, not every investor or bond program accepts the model, CreditXpert scenarios are unavailable, and one scoring model must be used for all borrowers on a loan.
Team actionWait for rollout instructions and confirm investor, bond-program, pricing, and operations guidance before using VantageScore 4.0
New internal-only product video alert received; written terms were not provided.
Margaret’s “Baby Got Stack” message links to an internal-use-only video but contains no written eligibility, pricing, underwriting, or operational terms. The video and link are not reproduced here, and no product rule is inferred from the headline.
Team actionOpen the original internal message, then validate Product411, the current product matrix, and underwriting guidance for the actual file
Re-run AUS after every loan-profile change; recent findings have tightened.
Melissa advised that recent DU and LPA outcomes appear tighter and that a strong credit score is not an automatic approval. Files have flipped after seemingly favorable changes. Review the AUS messages, re-run after every change, and test only permitted, verifiable scenarios such as a shorter term, validated reserves, removing seller credits or gifts, eligible positive rental-income treatment, or attaching Finicity/AccountChek on conventional files. None is a guaranteed fix.
Team actionRe-run AUS, read every message, and validate the current guide and underwriting path before relying on an approval
New Non-QM Quick Reference Guide announced for internal use.
Margaret’s email announces a Non-QM Quick Reference Guide and points to a video explicitly marked internal-only. The email contains no written eligibility, documentation, pricing, or underwriting details, so no product term or external link is reproduced here.
Team actionOpen the original internal email, then validate the current guide and Product411 for the actual scenario
Use OHFA's partial-exemption disclosure at origination and closing.
OHFA's September 18 lender email reiterates that compliance review should receive a completely underwritten file with Clear to Close except for OHFA approval. For OHFA secondary financing, execute the Partial Exemption Disclosure at origination and again at closing; follow current OHFA and TRID guidance if the program changes.
Team actionComplete the disclosure steps and validate current OHFA submission guidance
Open OHFA lender guidance Internal-only Leadoff / On Deck offer-routing alert received.
Margaret’s email points to an internal-only video and contains no written eligibility, pricing, or workflow details. The headline confirms only that an internal resource exists; the video and link are not reproduced, and no program rule is inferred from the subject.
Team actionOpen the original internal message, then validate Product411 and current operations guidance
Internal-only “breaking ground” product alert received.
Margaret’s email points to an internal-only video but contains no written product details. The subject line alone is not enough to verify a product term, eligibility rule, or client-facing claim, so the video and its link are not reproduced here.
Team actionReview the original internal message and verify Product411 before scenario use
New VA casefiles in DU move to VA version 4.1 on August 22.
Melissa advised that VA version 4.1 will apply to new VA loan casefiles submitted through DU beginning August 22. The announcement did not detail the changes, so do not assume prior risk tolerances or rely on DU alone; government-loan findings may not display every applicable VA requirement.
Team actionReview DU findings and current VA guidance for every affected file
FHA manual DTI caps require HUD-defined compensating factors.
An AUS approval may permit a DTI up to 56.99%, but an FHA manual underwrite is subject to separate DTI caps and the applicable HUD-defined compensating-factor requirements. Do not carry the AUS tolerance into a manual file.
Team actionValidate the manual DTI cap and compensating factor before preapproval
Open FHA handbook update FHA manual files with collections or charge-offs need proof—not only an LOX.
For an FHA manual underwrite, collect the borrower’s explanation plus supporting documentation that can substantiate the issue was not caused by an inability to manage debt. Set that expectation before the file reaches underwriting.
Team actionDiscuss documentation with the borrower early
Open FHA handbook update An FHA Accept or Approve/Eligible can still require a manual downgrade.
Automated findings do not override FHA manual-downgrade triggers tied to issues in the file or mortgage-payment history. Review the trigger before relying on the AUS result.
Team actionCheck manual-downgrade triggers before preapproval
Open FHA handbook update FHA business losses must be counted even below 25% ownership.
A loss from a borrower-owned business must be considered for FHA regardless of ownership percentage or whether the business is only a side hustle. Do not screen the loss out solely because ownership is under 25%.
Team actionFlag every business loss for income review
New internal condo resource: “911 for Condos.”
Margaret shared a new condo-financing video for team education. The email does not include the underlying guidance in writing, so use the original internal video and Product411 for the exact scenario rather than inferring a rule from the headline.
Team actionInternal use only · do not forward externally
Construction financing may be available for investment properties.
This is a potential path for qualifying investment-property construction scenarios. Program, investor, down payment, reserves, property, experience, and pricing must be confirmed for the actual file.
Team actionSend the scenario to Product411 before presenting terms
Below-market-rate options may help win the right deal.
Treat this as a prompt to check available specialty or structured-pricing options—not as a public rate claim. Confirm current eligibility, pricing, costs, and approved client-facing language before using it in a proposal.
Team actionInternal use only · verify live pricing
Email summaries are operational reminders, not substitutes for the current WMC product matrix, investor guide, AUS findings, Product411, or underwriting review of the actual file.
Rate history
See the move in context.
National 30-year fixed averages. Daily data uses MND; longer views use Freddie Mac's weekly PMMS.
Lock or float desk
Match the decision to the borrower's risk.
This is a conversation framework, not a universal lock recommendation or a market guarantee.
Lean lockProtect the workable payment
- Closing is near or the contract timeline is firm.
- A higher payment would strain approval or comfort.
- The borrower values certainty over a possible improvement.
- Recent volatility makes a small intraday improvement fragile.
Wednesday's sharp bond selloff and 10-year yield above 5% created substantial negative-reprice risk. Protect workable executable terms when the timeline is short or the budget is sensitive.
Float with guardrailsAccept risk intentionally
- The timeline and qualification have room for movement.
- The borrower understands pricing can worsen quickly.
- A target improvement and maximum acceptable loss are set.
- A firm lock deadline is written down and monitored.
Set a written loss limit and review again by noon CT today and immediately after the next Treasury or Fed headline, then again before Thursday's new-home-sales release. A float accepts deterioration risk from inflation, jobs, growth, energy, Treasury supply, corporate issuance, and global headlines.
Today's team scripts
Ready to send. Easy to say.
Refreshed from verified company pricing-email status, MBS and Treasury movement, national rate data, market news, and the next economic events. Recipient-restricted Element pricing is not reproduced in these scripts.
For Kim · copy/paste to client
Lock-or-float update
Hi [First Name] — quick market update. Pricing is worse this morning after hotter business-activity data and rising oil pushed mortgage bonds sharply lower and Treasury yields higher. Only a live approved-system quote can confirm your exact change. We do not have a crystal ball. Locking protects a workable rate, payment, and cash to close, while floating accepts both improvement potential and the risk of a higher rate, more points, or a higher payment. With today’s volatility, I would lean toward protecting an executable quote that works—especially for a near closing or tight payment. If we float with more time, let’s set a written loss limit and review by noon CT and immediately after today’s 5-year Treasury auction. I can show you the dollar impact of a small move either way.
No prediction or guarantee. Match the decision to the borrower's budget, closing timeline, and tolerance for a worse price.
For Roberto, Brian & Luis · phone script
Explain the rate and the points
When I quote a rate, I also want to explain the why behind it. The Fed does not directly set mortgage rates. Mortgage pricing follows mortgage-backed securities and longer-term Treasury yields, which react to inflation, jobs, economic growth, Fed expectations, energy prices, and geopolitical news. Today, rising oil and hotter S&P flash PMI data pushed mortgage bonds sharply lower and the 10-year Treasury above 5%, increasing negative-reprice risk as markets priced greater odds of additional Fed tightening. Your exact quote depends on your loan program, credit, down payment or LTV, occupancy, property type, loan amount, lock period, and any points or credits. If another lender shows a lower-looking rate, it may be a true pricing difference or it may include points; we should verify the Loan Estimate before saying which. One point equals 1% of the loan amount—it does not mean the rate falls by 1%. Discount points are an upfront cost used to obtain a lower rate. Other origination charges are lender fees and do not automatically lower the rate. The fairest comparison uses same-day Loan Estimates with the same program, lock period, and assumptions. Compare the rate, APR, Section A charges, points, credits, payment, cash to close, and break-even—not the headline rate alone.
RateSame program + lock period
CostPoints + Section A charges
ValueAPR + credits + break-even
When someone asks “What are rates doing?”
Start with who is asking.
These versions use the same verified market facts but lead with the decision that matters to each audience.
Past client · possible refinance
Use the one-percentage-point screen
Hi [First Name] — mortgage markets are worse this morning after hotter business-activity data and rising oil pushed mortgage bonds lower and Treasury yields higher. The latest published national 30-year benchmark is 7.17%, but it is not your rate. Since we helped with your current mortgage, we’re happy to check whether today’s live pricing creates a meaningful refinance benefit. Our normal screening rule is that a standard rate-and-term refinance generally should lower the note rate by about one full percentage point—for example, 7.25% to roughly 6.25%—before it starts to look compelling. That is a percentage-point drop in rate, not one discount point, and it is not an automatic approval or recommendation. We still compare closing costs, monthly savings, break-even period, new balance, remaining term, and expected time in the loan. A smaller change can still deserve review for mortgage-insurance removal, a term change, an ARM restructure, cash-out for a specific goal, or a genuinely low-cost structure. We will run the scenario-specific math before recommending anything.
OMG starting ruleAbout 1.00 percentage point lower in note rateExample: 7.25% → about 6.25%. This is not the same as paying one discount point, and it never replaces a cost/break-even analysis.
Preapproved or getting preapproved
Bring the answer back to their payment
Mortgage markets are worse this morning after rising oil and hotter business-activity data pushed mortgage bonds sharply lower. The latest 7.17% national 30-year benchmark is not your rate. Your rate depends on the program, credit, down payment or LTV, occupancy, property type, loan amount, lock period, and whether you choose points or a lender credit. If you are already preapproved, we can refresh your payment and cash to close before you write. If you are getting preapproved, we will compare programs and payment strategies side by side. A lower advertised rate may include discount points, so compare same-day Loan Estimates using the same assumptions and review the rate, APR, Section A charges, credits, payment, cash to close, and break-even together.
Quote only after pricing the borrower's actual program, credit, LTV, property, lock period, points, and credits.
Realtor partner
Translate the market into an offer plan
Mortgage markets are worse this morning after hotter business-activity data and rising oil pushed mortgage bonds lower and Treasury yields higher. The latest 7.17% national benchmark is not a buyer quote, and there is no universal buyer rate—the program, credit, down payment or LTV, occupancy, property type, loan amount, lock period, and points or credits control the actual quote. Before a client writes, let’s refresh payment and cash to close, then model seller concessions, temporary or permanent buydowns, ARMs, and program alternatives where appropriate. We do not have a crystal ball, so the goal is a workable offer plan and a clear lock-or-float framework—not predicting the next move or quoting the client through the Realtor.
Do not turn a national benchmark into a buyer quote. Offer a fresh payment review before the client writes or counters.
Client-ready answers
Say it simply and accurately.
Short talking points for calls, texts, videos, and realtor conversations.
Today's one-liner
“Mortgage markets are sharply weaker after hotter business data and rising oil; the approved-system executable quote—not a national average—controls the borrower's actual options.”
What are mortgage rates today?
The latest published national 30-year fixed index is Tuesday’s 7.17%. Wednesday’s verified 10:08 AM CT MBS Live alert showed UMBS 6.0 at 99.32, down 0.51, and the 10-year Treasury at 5.069%, up 0.113. Those national and market indicators are not your quote. Your program, credit, down payment, occupancy, property, loan amount, points or credits, and lock period determine actual pricing in approved company systems.
Why are mortgage rates moving today?
Mortgage bonds weakened sharply as oil rose and S&P Global’s flash PMI data showed unexpectedly strong services and manufacturing activity. Those signals increased inflation and Fed-hike concerns, while geopolitical headlines added volatility. The Fed raised its overnight target range by 0.25 percentage point to 3.75%–4.00% last week, but mortgage rates do not move mechanically with that rate. Mortgages follow MBS, longer-term Treasury yields, and expectations for inflation, jobs, growth, energy costs, geopolitics, and future Fed policy.
What should buyers expect next?
This week’s scheduled tests include August new-home sales on Thursday, September 24 at 9:00 AM CT and August durable-goods orders on Friday, September 25 at 7:30 AM CT. Freddie Mac’s September 17 PMMS is 6.95% for the 30-year fixed rate, a weekly national average—not a same-day quote.
Should I lock or float?
Do not make a lock-or-float decision from a national average or the recipient-restricted Element email. If an approved system provides an executable quote, locking protects a workable payment and cash to close; floating accepts both improvement potential and worse pricing. Wednesday’s sharp bond selloff creates substantial negative-reprice risk. Near-closing or payment-sensitive borrowers should protect workable executable terms; any float needs a written loss limit and an immediate review deadline—there is no guaranteed forecast.
Payment strategy
Six levers beyond “wait for rates.”
Structure the whole loan around the buyer's cash, timeline, and payment goal.
Use seller concessions
Apply negotiated seller funds to allowable closing costs, discount points, or an eligible temporary buydown so the buyer keeps more cash or lowers the payment.
Best fitCash-sensitive buyers or listings with negotiation room
Build a temporary buydown
A 2-1 or 3-2-1 structure can reduce the buyer’s initial payments. Show the full schedule and confirm program qualification rules before presenting it.
Best fitBuyers expecting income growth or near-term payment relief
Compare permanent points
Paying points may lower the note rate for the life of the loan. Calculate the monthly savings and break-even month before deciding.
Best fitLonger ownership horizons with available cash or credits
Price an ARM
An ARM may start below a fixed rate, but future payments can rise. WaterStone Bank's 7-year ARM increase of 0.25% and 5-year ARM increase of 0.375% became effective August 3. Verify current pricing in Optimal Blue and compare the fixed period, index, margin, caps, and maximum payment—not just the start rate.
Best fitShorter time horizons and borrowers who can absorb adjustments
Compare programs
Run conventional, FHA, VA, USDA, assistance, and eligible specialty options side by side. The lowest rate is not always the lowest total payment or cash-to-close.
Best fitEvery borrower before settling on a loan structure
Tune the full payment
Test down payment, mortgage insurance, credit improvement, taxes, insurance, HOA dues, and debt payoff. The biggest win may sit outside the note rate.
Best fitBorrowers focused on a firm monthly-payment ceiling
National mortgage news
What the team needs to know.
Latest rates + bonds · Wednesday late morning
Hot PMIs and rising oil drive a sharp bond selloff
Tuesday's 7.17% MND index is the latest published daily benchmark. Wednesday's verified 10:08 AM alert showed UMBS 6.0 at 99.32, down 0.51, and the 10-year Treasury at 5.069%, up 0.113 as rising oil and stronger activity data pressured bonds.
Mortgage News Daily ↗Federal Reserve · September 16The Fed raised its overnight target range by 0.25 percentage point
The FOMC raised the federal-funds target range to 3.75%–4.00%. Mortgage rates did not move one-for-one with the hike: longer-term yields sold off during the press conference, reversed lower Thursday, and then moved higher again Friday morning.
Federal Reserve ↗Growth data · FridayIndustrial production was flat; leading indicators edged lower
August industrial production was unchanged, manufacturing output fell 0.3%, and capacity utilization held at 76.3%. The Conference Board's August Leading Economic Index declined 0.1%.
Federal Reserve ↗