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Mortgage rates fell today , in many cases to levels not seen in well over a month . The average lender was just a hair better than last Thursday, meaning you'd have to go back to November 17th to see anything better. 4.125% is still the most prevalent conventional 30yr fixed rate on top tier scenarios, with today's improvements seen in the form of upfront costs. In other words, " effective rates " (which take closing costs into consideration) are lower while " note rates " (which is just the rate applied to your mortgage balance) are generally unchanged. What's behind today's move? First of all, lenders are increasingly able to offer rate sheet improvements even if bond markets simply hold their ground. Lenders had extra cushion built into late December rate sheets as bond markets deteriorated
Mortgage Rate Watch
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Mortgage rates fell today , in many cases to levels not seen in well over a month . The average lender was just a hair better than last Thursday, meaning you'd have to go back to November 17th to see anything better. 4.125% is still the most prevalen... (read more)
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Rob Chrisman
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While rumors swirl about the topic for the phone call with Stearns Lending’s correspondent-wide staff today (let’s hope its good news), Richard Cordray’s job future, and more retail layoffs (this time Walmart’s cuts), how abou... (read more)
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MBS Commentary
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To a significantly greater degree than yesterday's 3yr Treasury auction, today's 10yr auction will have the power to confirm a trend we were beginning to see at the end of last year. Namely, that investors had finally seen prices fall enough ... (read more)
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Mortgage Rate Watch
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Mortgage rates were slightly higher today, but remain in much better shape overall when compared to the last month of 2016. In many ways, the new year marked a shifting of gears for rates, or rather, the bond traders whose actions dictate the day-to-... (read more)
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Housing News
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Mortgage applications continue to decompress from the two-week holiday moratorium as well as from the usual holiday business interruptions, so it is hard to know where volumes really stand. The Mortgage Bankers Association's (MBA's) current Market Co... (read more)
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MBS Commentary
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Today was about as tame as they come for bond markets, post-election. 10yr yields traded a high of 2.394 and a low of 2.361. That's a very narrow day by recent standards, and if we look only at domestic hours, the range is a bit na... (read more)
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freddiemac.mwnewsroom.com
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