Mortgage rates were sideways to slightly higher today, and that's actually a strong showing considering what transpired in underlying bond markets. In fact, I'd wager tomorrow morning's rate sheets will be noticeably weaker if bonds are anywhere near their current levels. This flow of logic raises a valid question: if bonds drive rates and if bonds say rates should be higher, then why aren't they higher already? The answer is fairly simple: mortgage lenders put out one rate sheet per day unless market conditions force them to change. Friday's rate sheets were arguably a bit worse than they should have been, based on bond levels. This allowed this morning's rate sheets to be a bit better than they otherwise might have been. Finally, bonds' deterioration throughout the day has been gradual enough

May 14, 2018 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Sideways But Market Says They Shouldn't Be Mortgage rates were sideways to slightly higher today, and that's actually a strong showing considering what transpired in underlying bond markets. In fact, I'd wager tomorrow morning's rate sheets will be noticeably weaker if bonds are anywhere near... (read more) Housing News Home Prices Driven up by Inventories, Again Not only did the pace of home price increases quicken nationally during the first quarter of 2018, but the National Association of Realtors® (NAR) said those increases are felt in most metropolitan areas . The national median existing single-fami... (read more) Rob Chrisman Union Home and Alliance Deal; Reverse Mortgage Changes; Fed Speeches This Week “Forward” lenders can’t ignore that 10,000 people a day in the U.S. turn 62. Of course, not every one owns a home, or has appreciation – but many do. And thus, plenty of lenders now have reverse mortgage departments. All FHA H... (read more) MBS Commentary MBS Live Day Ahead: Amid Quiet Week, Bonds Try Again This week's economic calendar is generally on the quiet side with Retail Sales being the only upper-echelon report in terms of its potential impact on bonds.  Apart from econ data, there are a fair amount of Fed speakers on tap, but the lineup... (read more) MBS Commentary MBS Live Recap: Impressionable Bonds Hit by Central Bank Comments and Issuance Low volume and lighter-than-normal liquidity left US bond markets more impressionable than normal today.  Or perhaps it IS normal given that it's a data-free Monday in the middle of May and the day after Mother's Day.  Those details would... (read more) MBS Commentary MBS Live Recap: Forgettable I'm going to write at you from an analytical standpoint for a moment.  Sorry, I just have to vent.  Today was completely forgettable.  In fact, the past 2 weeks have been pretty boring , with only a few exceptions.  It's not unde... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.67% +0.00% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.67% 0.00 0.00 15 Yr. Fixed 5.91% 0.00 0.00 30 Yr. FHA 6.19% -0.01 0.00 30 Yr. Jumbo 6.80% 0.00 0.00 7/6 SOFR ARM 6.29% -0.04 0.00 30 Yr. VA 6.20% -0.02 0.00 Updates Daily - Last Update: 7/1 15 Yr. Fixed Rate 5.91% +0.00% 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 99.91 -0.01 Price / Yield Change MBS UMBS 5.5 99.91 -0.01 UMBS 6.0 101.58 0.00 GNMA 5.5 100.07 +0.01 GNMA 6.0 101.43 +0.02 Pricing as of: 7/1 10:44PM EST 10 Year US Treasury 4.2446 +0.0054 Price / Yield Change US Treasury 2 YR Treasury 3.772 -0.004 5 YR Treasury 3.835 -0.004 7 YR Treasury 4.017 +0.005 10 YR Treasury 4.244 +0.005 30 YR Treasury 4.768 +0.001 Pricing as of: 7/1 10:44PM EST Latest Video Trading Nation: Home Depot’s hot streak IRS may nix blue states' workaround on tax deduction caps St. Louis Fed's James Bullard talks bitcoin and the economy Around the Web Bloomberg Fed's Bullard Blames Central Bank for Flattening Yield Curve Reuters Home Depot well placed to withstand 'Amazon effect,' investors say Bloomberg Foreign Central Bank Demand for Treasuries Ebbs With Bill Supply Freddie Mac Freddie Mac Names John Krenitsky Senior Vice President and Chief Compliance Officer NAR - Realtor.com Priced to Sell: The Weird Brilliance of This Home's $1 List Price The Basis Point Non-US Fintech Lending & Real Estate Expansion Calculated Risk Blog Payroll Employment and Seasonal Factors consumerfinancemonitor.com HUD to Seek Comment on Whether Disparate Impact Rule is Consistent With Supreme Court Decision CNBC This startup aims to back homebuyers who are short on cash Reuters CBS sues Redstones firm over Viacom merger CNBC Money is flowing into passively managed bond funds NAHB Eye on Housing Western and Some Southern States Lead Residential Permit Growth CNBC CNBC Interview with Loretta Mester, President, Federal Reserve Bank of Cleveland

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