Mortgage rates moved higher today as bond markets continued a mildly weaker trend for the month of April. Bonds (which underlie rates) are under pressure for a variety of reasons. The most notable headwinds are longer-term and bigger-picture. Rates responded to these headwinds in a fairly big way in Jan/Feb and have basically been "taking a break" since then. Rates have moved very little during this "break," with most borrowers being quoted the same NOTE rate on any given day in the past 2 months. Upfront costs have been the only way the modulate the EFFECTIVE rate of the average lender's 30yr fixed quote. Today's move in bonds brings 10yr Treasury yields to their highest levels since March 21st. While this, in and of itself, doesn't rekindle the same sort of drama seen in the first 2 months

April 18, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Inch Higher as Bonds Suggest More Trouble Ahead Mortgage rates moved higher today as bond markets continued a mildly weaker trend for the month of April. Bonds (which underlie rates) are under pressure for a variety of reasons. The most notable headwinds are longer-term and bigger-picture. Rates r... (read more) Housing News UI Says Underwriters Should Consider Rent History Access to credit remains tight and the Urban Institute (UI) blames in part that lenders are not measuring the credit risk of borrowers appropriately. Laurie Goodman and Jun Zhu, writing in UI's Urban Wire blog say that paying rent is the most signifi... (read more) Housing News Freddie Mac: Shop Smart, Save Big They aren't suggesting you shop 'til you drop, but Freddie Mac says neither should borrowers buy the first mortgage they see. Doug McManus and Elias Yannopoulos, members of the company's Economic and Housing Research Group, write in its Insights Blog... (read more) Rob Chrisman TPO and Warehouse Products; Training Events; MBA Shows Decrease in Volume, Profits The MBA tells us that both volume and profits were down in 2017. “ Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $711 on each loan they originated in 2017 , down from $1,346 per loan in 2016.&... (read more) MBS Commentary MBS Live Day Ahead: Bonds At Mercy of Earnings Ramp-Up, But Curve Could Help The term "earnings season" gets thrown around quite a bit in financial news, but what is it, exactly?  Simply put, it's a period of several weeks each quarter where a majority of companies release their earnings reports.  This is always of ... (read more) MBS Commentary MBS Live Recap: More Warning Shots From Bonds Today was a more serious version of the same sort of warning shots seen at the end of last week.  At that time, bond yields rose to challenge an intermediate ceiling at 2.835%, but didn't go out of their way to break it.  This week began wi... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% -0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% -0.05 0.00 15 Yr. Fixed 5.91% -0.05 0.00 30 Yr. FHA 6.20% -0.02 0.00 30 Yr. Jumbo 6.80% -0.04 0.00 7/6 SOFR ARM 6.33% 0.00 0.00 30 Yr. VA 6.22% -0.01 0.00 Updates Daily - Last Update: 6/30 15 Yr. Fixed Rate 5.91% -0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.77% -0.04 0.00 15 Yr. Fixed 5.89% -0.07 0.00 Updates Weekly - Last Update: 6/26 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.88% +0.04 0.63 15 Yr. Fixed 6.11% -0.03 0.74 30 Yr. Jumbo 6.88% +0.07 0.60 Updates Weekly - Last Update: 6/25 MBS / Treasuries UMBS 30YR 5.5 100.07 +0.26 Price / Yield Change MBS UMBS 5.5 100.07 +0.26 UMBS 6.0 101.68 +0.17 GNMA 5.5 100.19 +0.19 GNMA 6.0 101.50 +0.14 Pricing as of: 6/30 7:06PM EST 10 Year US Treasury 4.2246 -0.0567 Price / Yield Change US Treasury 2 YR Treasury 3.715 -0.035 5 YR Treasury 3.804 -0.031 7 YR Treasury 3.990 -0.045 10 YR Treasury 4.225 -0.057 30 YR Treasury 4.776 -0.055 Pricing as of: 6/30 7:06PM EST Latest Video Beige Book doesn't show anything new: LaVorgna Flattening yield curve, subdued loan growth hurting banks: Analyst Deutsche Bank highlights inflation as notable market risk Around the Web Freddie Mac Freddie Mac Prices New $2.5 Billion Two-Year Reference Notes Security CNBC U.S. Senate favors undoing consumer bureau's auto guidance CNBC Fed: Steel prices rising due to tariffs; economic outlook remains positive Calculated Risk Blog Housing Inventory Tracking CNBC The top 10 most expensive places to buy a home in the US Calculated Risk Blog AIA: "Architecture billings remain positive in March" PR Newswire NAR, realtor.com Report Housing Supply and Affordability Are at Odds in Markets Across U.S. CNBC Wall Street is set to open higher after blockbuster earnings NY Times California Lawmakers Kill Housing Bill After Fierce Debate Freddie Mac Freddie Mac April 2018 Insight CNBC Morgan Stanley issues warning that the end is near for the bull market Reuters Fed can keep rate hikes gradual without risking inflation: Evans CNBC 2-year yield hits highest level since 2008 after Fed official says he sees more inflation ahead

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