Home prices on the Federal Housing Finance Agency's (FHFA's) Housing Price Index (HPI) crept higher in October, although year over year appreciation slowed. FHFA, which remains open during the shutdown, released its data Thursday morning reflecting prices of homes purchases using financing from the GSEs Fannie Mae and Freddie Mac. The Index gained 0.3 percent in October, a slight acceleration from the 0.2 percent increase in September. Prices rose in seven of the nine census districts with the greatest increases in the Pacific division at 1.4 percent and the West North Central at 1.1 percent. Prices in the South and Middle Atlantic districts declined by 0.6 percent and 0.2 percent respectively. Year-over-year price gains decelerated from the previous month's 6.0 percent to 5.7 percent in October

December 27, 2018 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.15%   6.13% 7.26% 15 Yr. Fixed 5.88% +0.13%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.11%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Dec 27, 2018 Mortgage Rates Higher Today or Tomorrow Wed, Dec 26, 2018 4:10PM Mortgage rates were unchanged in some cases today and higher in others. The discrepancy is a result of the timing of today's market movements. The most important thing to know is that lenders who are unchanged today will almost certainly be higher tomorrow, unless the bond market stages an impressive comeback between now and tomorrow morning. Lenders have the final say in the mortgage rates they make available to borrowers, but their decisions are informed primarily by the bond market. Weaker bonds = higher rates, and vice versa. Bonds weakened today--modestly at first, then significantly in t... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% +0.15 0.00 15 Yr. Fixed 5.88% +0.13 0.00 30 Yr. FHA 6.05% +0.10 0.00 30 Yr. Jumbo 6.25% +0.11 0.00 7/6 SOFR ARM 5.77% +0.12 0.00 30 Yr. VA 6.07% +0.09 0.00 Updates Daily - Last Update: 9/18 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 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 99.55 -0.03   95.05 100.47 UMBS 30YR 5.5 101.07 +0.04   97.47 101.61 10 YR Treasury 4.102 +0.021   3.706 4.780 MBS Live Day Ahead: Bonds Still Trading Fed Day Range Thu, Dec 27, 2018 9:10AM Last Wednesday was Fed day and it marked a technical breakout for bond yields.  As far back as June 2018, 10yr yields had been bouncing on a floor of 2.82%.  Despite multiple attempts, yields never managed to  confirm a break below th... (read more) MBS Live Recap: Huge Bounce in Stocks Not So Good For Bonds Wed, Dec 26, 2018 4:47PM Bonds had a rotten day, primarily because stocks had an amazing day (although the terrible 5yr Treasury auction didn't help).  In turn, stocks primarily had an amazing day because they had a rotten day on Monday.  Looked at another way, in week-over-week terms, the S&P is roughly 2% higher right now--something that has happened to 1 in 4 we... (read more) MBS Price Change UMBS 4.5 97.47 -0.15 UMBS 5.0 99.52 -0.06 UMBS 5.5 101.07 +0.04 GNMA 4.5 97.53 -0.49 GNMA 5.0 99.74 -0.08 GNMA 5.5 100.94 +0.06 Pricing as of: 9/18 2:55PM EST US Treasury Yield Change 2 YR Treasury 3.569 +0.005 5 YR Treasury 3.661 +0.005 7 YR Treasury 3.849 +0.010 10 YR Treasury 4.100 +0.019 30 YR Treasury 4.716 +0.028 Pricing as of: 9/18 2:55PM EST Other News Fannie/Freddie Annual Prices Soften; New Home Sales Delayed Thu, Dec 27, 2018 10:06AM Home prices on the Federal Housing Finance Agency's (FHFA's) Housing Price Index (HPI) crept higher in October, although year over year appreciation slowed. FHFA, which remains open during the shutdown, released its data Thursday morning reflecting prices of homes purchases using financing from the GSEs Fannie Mae and Freddie Mac. The Index gained 0.3 percen... (read more) Case-Shiller Says Home Price Gains Slowing, Still up 5.5% Wed, Dec 26, 2018 10:59AM Home prices continued to ratchet down their advances in October, fewer than half of the tracked cities saw prices increase on an unadjusted basis. The slowing is also beginning to show up in the annual readings. The Case-Shiller National Home Price Index which covers all nine U.S. census divisions, reported a 5.5 percent annual gain in October, unchanged fro... (read more) Marketing Products; Shutdown Update, Flood Insurance Setback; Over 1,400 Vendors? Thu, Dec 27, 2018 8:54AM The US taxpayer has been bearing the credit risk of 90% of all new origination over the past 10 years. What about property/collateral risk? Yesterday FEMA issued a new opinion disallowing new or renewal flood insurance policies during the partial shutdown of the federal government. NAR weighed in. “Today’s ruling comes contrary to Congressional i... 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