Mortgage rates enjoyed a pleasantly flat week despite some volatility in the underlying bond market. The day-to-day changes in Treasuries and Mortgage-Backed-Securities (MBS) were noticeable, but they all took place inside the range of values seen last Wednesday on Fed day. In other words, the bond market (which dictates rates) digested the Fed's message and is now waiting for the next shoe to drop. When it does, we're highly likely to see the current range give way to the next bout of strong momentum. The shoe in question is next week's economic data. After all, the Fed's message last week was that it was prepared to cut rates if the economic data justified it. Next week contains several of the most important economic reports in the monthly rotation, including the all-important jobs report

June 28, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Jun 28, 2019 Rates Face Big Volatility Risk Next Week Fri, Jun 28, 2019 12:59PM Mortgage rates enjoyed a pleasantly flat week despite some volatility in the underlying bond market. The day-to-day changes in Treasuries and Mortgage-Backed-Securities (MBS) were noticeable, but they all took place inside the range of values seen last Wednesday on Fed day. In other words, the bond market (which dictates rates) digested the Fed's message and is now waiting for the next shoe to drop. When it does, we're highly likely to see the current range give way to the next bout of strong momentum. The shoe in question is next week's economic data. After all, the Fed's message last week wa... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 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 5.5 101.13 +0.02   97.47 101.61 UMBS 30YR 6.0 102.40 0.00   99.66 102.50 10 YR Treasury 4.066 +0.040   3.621 4.780 MBS Live Recap: Calm Before The (Possible) Storm Fri, Jun 28, 2019 3:01PM Bonds were perfectly unchanged to start the day after the smallest amount of overnight movement we've seen all week.  This is a palpable reminder that this week has indeed been all about coming to terms with the post-Fed range and preparing for what lies ahead.  Specifically, ever since Fed day, 10yr yields have gradually traded in a narrower and... (read more) MBS Price Change UMBS 5.0 99.63 +0.06 UMBS 5.5 101.13 +0.02 UMBS 6.0 102.40 0.00 GNMA 5.0 100.00 -0.08 GNMA 5.5 101.13 -0.08 GNMA 6.0 102.01 -0.04 Pricing as of: 9/14 3:51AM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.009 5 YR Treasury 3.630 +0.027 7 YR Treasury 3.816 +0.038 10 YR Treasury 4.066 +0.040 30 YR Treasury 4.681 +0.023 Pricing as of: 9/14 3:51AM EST Other News Rent or Buy? The Answer May Depend on Your Other Expenses Thu, Jun 27, 2019 3:46PM A household's decision between buying a home and renting one is being increasingly determined by its student loan debt and childcare cost burdens according to results of a Freddie Mac survey of renters and homeowners. The survey of 4,000 households shows that affordability issues are continuing to have a profound impact on housing choices. Freddie Mac presid... (read more) Pending Home Sales Set Stage for Solid Summer Sales Thu, Jun 27, 2019 10:22AM Pending home sales got back on track in May , increasing by 1.1 percent after a 1.5 percent setback in April. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a measure of newly signed contracts for home purchase, rose from 104.3 in April to 105.4 last month. The May increase, the third in four months, was still not e... (read more) Freddie Mac Portfolio Growth Accelerates Wed, Jun 26, 2019 9:44AM Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 7.5 percent in May , increasing from 6.2 percent the previous month. The portfolio balance at the end of the period was $2.230 trillion compared to $2.216 trillion at the end of April and $2.120 trillion a year earlier. Purchases and Issuances totaled $46.082 ... (read more) Broker, Appraisal Products; Investor Policy and Procedure Changes Fri, Jun 28, 2019 9:09AM VA lenders are talking about the “cap” being removed as the Department of Veterans Affairs can now back loans that exceed the conforming loan limit. President Trump signed the Blue Water Navy Vietnam Veterans Act which allows homebuyers to borrow above the 2019 limit of $484,350 for most counties without any down payment. (The bill revises the VA... (read more) Latest Video January new home sales drop nearly 7% Bank of America CEO: Loan demand showing consistent growth UK parliament votes on options to delay Brexit January new home sales fall short of expectations, down 6.9 percent Around the Web Calculated Risk Blog Fannie Mae: Mortgage Serious Delinquency Rate Decreased in May, Lowest Since July 2007 Reuters U.S. banks play cat-and-mouse game with Fed on capital returns Reuters Explainer: U.S.-China trade talks: where they are and what's at stake Calculated Risk Blog Q2 GDP Forecasts: Around 1.5% CNBC 83% of non-homeowners say student loans are the reason they can't afford to buy Calculated Risk Blog Philly Fed: State Coincident Indexes increased in 41 states in May Reuters Shares in big banks climb as Fed approves capital plans Bloomberg U.S. Core Inflation Shows Signs of Life as Fed Weighs Rate Cut Bloomberg Trump Wants Fed to Weaken Dollar. Powell Says That's Not His Job Bloomberg Multiple Fed Cuts, Trade Deal Path Plot, Uncertain Yuan: Eco Day Reuters Stocks gain on U.S.-China trade truce hopes, dollar flat Calculated Risk Blog Reis: Apartment Vacancy Rate unchanged in Q2 at 4.7% CNBC The bond market is doing something that is usually a sign for investors to 'flee for the hills'

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