Mortgage rates failed to extend yesterday's modest improvement, moving modestly higher by the end of the day. This takes the average lender very close to the long-term highs seen on October 5th. Indeed, prospective borrowers shouldn't be surprised to see the highest rates since early 2011. In and of itself, today wasn't too dramatic. We were already fairly close to these highs yesterday and, in general, have been holding in a fairly sideways pattern nearby for most of the month. As has been the case for more than 2 years, we are in a rising rate environment, and there's no compelling reason for an immediate change. That said, the higher rates go, the harder it will be for them to continue moving higher. Additionally, when rates are historically high, we tend to see more "false starts" that

October 19, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Oct 19, 2018 Rates Edge Back Toward Long-Term Highs Fri, Oct 19, 2018 3:25PM Mortgage rates failed to extend yesterday's modest improvement, moving modestly higher by the end of the day. This takes the average lender very close to the long-term highs seen on October 5th. Indeed, prospective borrowers shouldn't be surprised to see the highest rates since early 2011. In and of itself, today wasn't too dramatic. We were already fairly close to these highs yesterday and, in general, have been holding in a fairly sideways pattern nearby for most of the month. As has been the case for more than 2 years, we are in a rising rate environment, and there's no compelling reason fo... (read more) Mortgage Rates Recover With Help From an Old Friend Thu, Oct 18, 2018 4:17PM Mortgage rates recovered most of yesterday's losses today, following turmoil in European financial markets. What does Europe have to do with rates in the US? A lot, actually. In fact, Europe deserves credit for most of the glacial move toward lower rates seen from early 2014 through mid-2016, and was a key ingredient of the low rate environment in 2011-2012. More recently, Europe has been heading in a more American direction when it comes to monetary policy, and that's resulted in upward pressure on rates. Most recently, investors are having some doubts about Italy's willingness to play nice w... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.59 -0.37   95.05 100.50 UMBS 30YR 5.5 101.03 -0.20   97.47 101.61 10 YR Treasury 4.081 +0.050   3.643 4.780 MBS Live Day Ahead: Risks and Opportunities With Past Precedent Fri, Oct 19, 2018 8:54AM We've talked a bit (in this commentary and in the live chat on MBS Live ) about the similarities between the October sell-off and one seen in April/May 2018.  Both took yields to what were, at the time, the highest yields in years.  Both e... (read more) MBS Live Recap: Bonds Find Buyers Thanks to Europe Thu, Oct 18, 2018 5:04PM Bond markets began the day almost perfectly unchanged relative to yesterday's latest levels.  That means the nasty little afternoon selling spree was still priced-in as of this morning.  That continued to be the case until the 11am hour. At that point, European markets were beginning a decisive risk-off move heading into the end of their trading ... (read more) MBS Price Change UMBS 4.5 97.63 -0.41 UMBS 5.0 99.59 -0.37 UMBS 5.5 101.03 -0.20 GNMA 4.5 98.02 -0.14 GNMA 5.0 99.82 -0.38 GNMA 5.5 100.89 -0.32 Pricing as of: 9/17 7:52PM EST US Treasury Yield Change 2 YR Treasury 3.564 +0.060 5 YR Treasury 3.656 +0.070 7 YR Treasury 3.839 +0.068 10 YR Treasury 4.081 +0.050 30 YR Treasury 4.688 +0.036 Pricing as of: 9/17 7:52PM EST Other News Existing Home Sales Extend Slump, But Inventory Holds Annual Gain Fri, Oct 19, 2018 11:02AM Existing home sales slipped in September, following a month in which sales were almost totally flat. The National Association of Realtors® (NAR) said that closed transactions for existing single family homes, townhouses, condos, and cooperative apartments was at a seasonally adjusted rate of 5.15 million in September. This was a 3.4 percent decline from ... (read more) Appraisal White Paper; Data Filter Product; Capital Markets News Fri, Oct 19, 2018 10:02AM Everyone, and their brother, knows that the costs for builders to build a home are increasing. Politics aside, it turns out that the tariff changes are indeed impacting the cost of remodeling and building, and NAHB released a list of products affected by tariffs, including nails. Did you know that, per a Freddie Mac poll, 78% of Americans now say that rentin... (read more) Latest Video Treasury proposes rules meant to spur investment in low-income areas Existing home sales down 3.4% in September Bill Smead says buy homebuilder stocks Around the Web Calculated Risk Blog Q3 GDP Forecasts Reuters Fed's Kaplan sees two-three more rate hikes to hit 'neutral' level NAR - Realtor.com Why Are Home Sales Falling? What Buyers and Sellers Should Know Calculated Risk Blog BLS: Unemployment Rates Lower in 9 states in September, Six States at New Series Lows Redfin Mortgage and Cryptocurrency: Can Bitcoin Pay for Your Home? CNBC Bank of England's Carney says system ready for 'cliff-edge' Brexit, though it's unlikely to happen CNBC Investors can get big tax breaks if they invest in 'opportunity zones' under new Treasury rules Calculated Risk Blog A Few Comments on September Existing Home Sales CNBC Homeowners poised to start tapping $14.4 trillion in equity CNBC Here's what's happening in Italy and why it's hurting markets Calculated Risk Blog Merrill on House Prices CNBC Banks urge US regulators to reconsider 'Volcker Rule' tweaks CNBC US Treasury yields rise as investors monitor a sell-off in Italy

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