Mortgage rates held on to their recent improvements today after the important Employment Situation (the big "jobs report") showed November job creation was lower than expected. In general, weaker job creation is good for interest rates because it speaks to slower economic growth and inflation (both of which are enemies of rates). This report was particularly important because a strong result would have cast doubt on several speeches from members of the Federal Reserve. Those speeches have warned about slower economic growth in 2019 and the potential for fewer rate hikes than previously anticipated. There were no clear winners or losers at first--probably because job creation is still historically solid. Additionally, the unemployment rate remained ultra low, and wage growth remained above 3

December 7, 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 7, 2018 Mortgage Rates Lowest Since September After Jobs Report Fri, Dec 7, 2018 3:55PM Mortgage rates held on to their recent improvements today after the important Employment Situation (the big "jobs report") showed November job creation was lower than expected. In general, weaker job creation is good for interest rates because it speaks to slower economic growth and inflation (both of which are enemies of rates). This report was particularly important because a strong result would have cast doubt on several speeches from members of the Federal Reserve. Those speeches have warned about slower economic growth in 2019 and the potential for fewer rate hikes than previously anticip... (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 5.5 101.26 -0.04   97.47 101.61 UMBS 30YR 6.0 102.36 -0.09   99.66 102.50 10 YR Treasury 4.033 -0.007   3.621 4.780 MBS Live Day Ahead: So Much of The Recent Volatility Has Been Building Toward Today Fri, Dec 7, 2018 8:33AM Powell's speech last week at the Economic Club of New York marked the beginning of an official shift.  Until then, while the Fed had its dovish dissenters, the consensus was "steady as she goes" with respect to regular rate hikes in the coming q... (read more) MBS Live Recap: Bonds Think it Over After NFP, Then Finally Decide to Rally Fri, Dec 7, 2018 4:23PM This morning's trading--both before and after NFP came out--basically acted as additional time for debate .  Both MBS and Treasuries bounced quickly, but symmetrically around yesterday's closing levels before finally choosing a direction.  Actually, the direction may have been chosen for them to some extent, as it was the stock market that made th... (read more) MBS Price Change UMBS 5.0 99.95 +0.03 UMBS 5.5 101.27 -0.03 UMBS 6.0 102.36 -0.09 GNMA 5.0 100.24 0.00 GNMA 5.5 101.19 -0.03 GNMA 6.0 101.93 -0.05 Pricing as of: 9/16 5:00PM EST US Treasury Yield Change 2 YR Treasury 3.512 -0.025 5 YR Treasury 3.591 -0.009 7 YR Treasury 3.777 -0.015 10 YR Treasury 4.032 -0.009 30 YR Treasury 4.649 -0.012 Pricing as of: 9/16 5:00PM EST Other News New Fannie/Freddie Requirements May Penalize High-Risk Borrowers Fri, Dec 7, 2018 1:24PM Three researchers from the Urban Institute (UI) recently analyzed the new capital standards rule proposed by the Federal Housing Finance Agency (FHFA) for Fannie Mae and Freddie Mac (the GSEs.) The proposed rule includes two alternative leverage ratio proposals. Under the first, the GSEs would be required to hold capital equal to 2.5 percent of total assets ... (read more) Uptick in Home Purchase Sentiment Reflects Increased Confidence Fri, Dec 7, 2018 11:51AM Fannie Mae's Home Purchase Sentiment Index (HPSI) for November rose slightly, but within the 0.5-point increase was some increased confidence about personal finances and the wisdom of buying a home. The index, which consolidates responses from a subset of questions on the company's National Housing Survey, rose to 86.2 from 85.7 in November. The index is 1.6... (read more) Warehouse Products; Vendor/Service Provider Directory; Yield Curve Primer Fri, Dec 7, 2018 9:17AM The year has sped along, and here we are at Pearl Harbor Day already. Although mortgage rates have lagged, what has pushed Treasury rates down? Released earlier this week, the Federal Reserve's latest report on economic conditions, known as the Beige Book, says most of its 12 regions achieved satisfactory growth in November but also says there is "increased ... (read more) Latest Video We should have been more aggressive on raising rates in the past, says form... Jobs numbers show economy slowing to a more gentle growth, says economist Consumer sentiment holds steady for December Around the Web Calculated Risk Blog Lawler: Some Early Realtor/MLS Based Reports on Home Sales and Active Listings for November Bloomberg ECB Not Announcing End of QE an 'Impossibility,' BofA's Preusser Says CNBC Bullard suggests delaying December rate hike, first Fed member to publicly do so Calculated Risk Blog Seattle Real Estate in November: Sales Down 20% YoY, Inventory up 135% YoY consumerfinancemonitor.com Another Temporary Extension of the Flood Insurance Program CNBC Barbara Corcoran says the No. 1 mistake home-buyers make is one she made too Calculated Risk Blog Comments on November Employment Report CNBC Markets see easier Fed after November hiring slowdown Reuters U.S. job growth cools in November, monthly wage gains modest CNBC 10 once-affordable housing markets where residents could soon be priced out Bloomberg Dovish Fed Hike Seen by JPMorgan as Markets Flash Slowdown' Reuters U.S. employment report seen calming fears over economy Calculated Risk Blog Las Vegas Real Estate in November: Sales Down 12% YoY, Inventory up 63% YoY

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