Mortgage rates fell today as lenders got caught up with the friendly move in the bond market that we noted yesterday. Incidentally, today's bond market movement was also friendly (i.e. it suggested rates should continue to move lower). There's almost never only one reason that financial markets are doing whatever they're doing, even if there is frequently one reason that's bigger than the others. Both stocks and oil prices were high on the list of reasons for today's interest rate movement. When it comes to stocks, big losses frequently help rates (investors often seek safe-havens when stocks are panicking, and bond markets can be one of those havens. More bond buying = lower rates). When it comes to oil prices, the relationship with rates is far less predictable , but when oil is falling rapidly

December 18, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.13% -0.12%   6.11% 7.26% 15 Yr. Fixed 5.71% +0.00%   5.54% 6.59% 30 Yr. Jumbo 6.15% -0.10%   6.15% 7.45% Compare Mortgage Rates from Local Lenders for Dec 18, 2018 Mortgage Rates Lowest Since August Ahead of Fed Tue, Dec 18, 2018 4:01PM Mortgage rates fell today as lenders got caught up with the friendly move in the bond market that we noted yesterday. Incidentally, today's bond market movement was also friendly (i.e. it suggested rates should continue to move lower). There's almost never only one reason that financial markets are doing whatever they're doing, even if there is frequently one reason that's bigger than the others. Both stocks and oil prices were high on the list of reasons for today's interest rate movement. When it comes to stocks, big losses frequently help rates (investors often seek safe-havens when stocks ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.13% -0.12 0.00 15 Yr. Fixed 5.71% 0.00 0.00 30 Yr. FHA 5.91% -0.08 0.00 30 Yr. Jumbo 6.15% -0.10 0.00 7/6 SOFR ARM 5.65% +0.01 0.00 30 Yr. VA 5.92% -0.09 0.00 Updates Daily - Last Update: 9/16 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 5.0 100.00 +0.04   95.05 100.50 UMBS 30YR 5.5 101.28 +0.05   97.47 101.61 10 YR Treasury 4.014 -0.017   3.643 4.780 MBS Live Day Ahead: Bonds Running Into Same Rate Floor Ahead of Fed Tue, Dec 18, 2018 9:58AM Fed day tomorrow!  We'll finally get to see what's what with respect to recent speculation and a factual shift in tone from several Fed members (including Powell).  But we have a day and a half of trading to get through before that happens.... (read more) MBS Live Recap: Stock Sell-Off Makes Strong Case For Bond Consolidation Mon, Dec 17, 2018 5:46PM Just when you thought we might be done talking about "consolidations," there's that word again!  I'd suggested on Friday that the modest bond market gains helped to confirm a consolidation as opposed to a correction, with the recent yield highs of 2.92% acting as the dividing line.  With Friday closing just under 2.90%, we weren't exactly out of ... (read more) MBS Price Change UMBS 4.5 98.07 +0.03 UMBS 5.0 100.00 +0.04 UMBS 5.5 101.28 +0.05 GNMA 4.5 98.18 +0.03 GNMA 5.0 100.28 +0.07 GNMA 5.5 101.18 -0.02 Pricing as of: 9/17 6:44AM EST US Treasury Yield Change 2 YR Treasury 3.500 -0.003 5 YR Treasury 3.576 -0.011 7 YR Treasury 3.760 -0.011 10 YR Treasury 4.011 -0.020 30 YR Treasury 4.626 -0.025 Pricing as of: 9/17 6:44AM EST Other News One Region Accounts For Majority of Economic Optimism -NAR Survey Tue, Dec 18, 2018 3:47PM Only about one third of Americans told the National Association of Realtors® (NAR) in a recent survey that they thought it was a good time to buy a home. Respondents to NAR's fourth quarter Housing Opportunities and Market Experience (HOME) survey were generally upbeat about the economy, with 59 percent of those polls believing it is improving. However o... (read more) A Positive Housing Report? November Residential Construction Changes Course Tue, Dec 18, 2018 10:27AM Residential construction performed an abrupt and unexpected about face in October. Permits, housing starts, and completions all improved on a month-over-month basis and, except for completions, they were not token increases. The gains however did all come from the multifamily sector, single-family activity remained weak. Permits for privately owned housing u... (read more) Banks Buying Lenders and Other Banks, Report on Merger Activity; Capital Markets Update Tue, Dec 18, 2018 9:10AM “Rob, I’m no stranger to bribes.” (I am not going to say which mortgage banking production manager jokingly made that tongue-in-cheek statement.) We trust that Fed officials are not subject to bribes or political influences. A poll of 60 economists shows an almost unanimous expectation that the Federal Reserve will announce an interest-rate... (read more) Latest Video Stock market’s dramatic drop won’t change Fed’s path: Wells Fargo Chance of recession rises to highest in Trump's presidency: CNBC poll The Fed should be data-dependent and choose not to hike, says former Fed go... Around the Web Calculated Risk Blog Lawler: Early Read on Existing Home Sales in November Redfin Sales of New Homes Flatten as Supply and Prices Post Modest Growth in the Third Quarter Calculated Risk Blog Fed Stuck In An Uncomfortable Situation Bloomberg Fed Rate Hikes Are Extremely Rare When Stocks Are This Beat Up CNBC Single-family home construction tumbles and a top analyst says housing is in a correction CNBC US home construction rose in November, led by apartments Bloomberg A $361 Billion Fund Is Buying Treasuries on Bets Yields Peaking Bloomberg These Are the Neighborhoods Attracting America's Richest Bloomberg Why Treasuries Can't Be a Weapon in the Trade War NY Times What Is a Recession, and Why Are People Talking About the Next One? Reuters S&P 500 hits 14-month low on economic jitters ahead of Fed meeting Calculated Risk Blog California Bay Area Home Sales Decline 17% YoY in November, Inventory up 27% YoY CNBC Gundlach says passive investing has reached 'mania' status and will exasperate market's problems

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