Mortgage Rates were slightly higher today, keeping them in line with the weakest levels in just over 5 months. "Weakness" is relative, however. Apart from the past 5 months, and a few months in 2012, today's rates would rank among all-time lows. Day-to-day movement hasn't been extreme for the past few days, with most lenders continuing to quote 3.625% on top tier conventional 30yr fixed scenarios, and merely making small adjustments to the upfront costs depending on market movement. Volatility could increase tomorrow, following the Employment Situation. This "jobs report" is the biggest piece of economic data that comes out on any given month in terms of its market-moving track record. Its typical potency is likely limited by the election and broader global concerns that will be addressed in

November 3, 2016 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Nov 3, 2016 Mortgage Rates Drift Higher Ahead of Jobs Report Thu, Nov 3, 2016 4:03PM Mortgage Rates were slightly higher today, keeping them in line with the weakest levels in just over 5 months. "Weakness" is relative, however. Apart from the past 5 months, and a few months in 2012, today's rates would rank among all-time lows. Day-to-day movement hasn't been extreme for the past few days, with most lenders continuing to quote 3.625% on top tier conventional 30yr fixed scenarios, and merely making small adjustments to the upfront costs depending on market movement. Volatility could increase tomorrow, following the Employment Situation. This "jobs report" is the biggest piece ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.26 -0.02   97.47 101.61 UMBS 30YR 6.0 102.50 -0.04   99.66 102.50 10 YR Treasury 4.048 +0.009   3.621 4.780 MBS Live Day Ahead: Despite Election Drama, Europe Remains a Broader Concern Thu, Nov 3, 2016 9:53AM There can be no doubt that bond markets are responding to recent political headlines.  But there's even less of a doubt that stock markets are far more willing to respond.  That's not much of a revelation, given that stocks tend to be more ... (read more) MBS Live Recap: Bonds Hold Modest Gains With Little Regard For Fed Wed, Nov 2, 2016 5:25PM Taken in and of itself, today's Fed statement was "net-hawkish."  That means, relative to the last announcement, the verbiage took small but noticeable steps toward setting up an eventual rate hike.   Normally a net-hawkish Fed announc... (read more) MBS Price Change UMBS 5.0 99.74 -0.04 UMBS 5.5 101.26 -0.02 UMBS 6.0 102.50 -0.04 GNMA 5.0 100.05 -0.03 GNMA 5.5 101.20 +0.02 GNMA 6.0 102.15 -0.04 Pricing as of: 9/9 12:07AM EST US Treasury Yield Change 2 YR Treasury 3.498 +0.010 5 YR Treasury 3.570 +0.009 7 YR Treasury 3.776 +0.008 10 YR Treasury 4.049 +0.010 30 YR Treasury 4.700 +0.010 Pricing as of: 9/9 12:07AM EST Other News Taxpayers Getting Another $5.3 Billion from Fannie and Freddie Thu, Nov 3, 2016 12:38PM The two government sponsored enterprises (GSEs) reported improved financial results in the third quarter of 2016. Fannie Mae and Freddie Mac both said they would pay substantial dividends to the U.S. Treasury under their Senior Preferred Stock Purchase Agreement with the government. Freddie Mac's financial results for the third quarter continue to indicate t... (read more) Mortgage Credit Availability Index Sets New High Thu, Nov 3, 2016 12:13PM Several positive factors contributed to a rise in the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index in October. MBA's Vice President of Research and Economics, Lynn Fisher explained, "The index was pushed up by an increase in the number of investors as well as an uptick in the availability of jumbo and high balance loan programs. ... (read more) Buyer Trends Impacting Builders; Fannie's Profit and Partnership With SoFi Thu, Nov 3, 2016 10:03AM With residential applications at a 5-month industry low, it’s time for a pun. "How much does it cost to buy sixty female pigs and forty male deer? One hundred sows and bucks." How much does it cost to hire & train someone? Amazon says it will take on more than 120,000 seasonal workers for the holidays this year. Last year, 14,000 seasonal employees... (read more) Latest Video Wells Fargo discolses SEC probing sales practices Santelli Exchange: Game 7, bottom of the 10th for central banks ISM nonmanufacturing index at 54.8 for October Around the Web CNBC 'Fool's' monetary policy helped create Donald Trump, says ex-Fed president Fisher CFPB Monitor CFPB and NY Attorney General file federal court action against debt buyers Calculated Risk Blog Fannie and Freddie: REO inventory declined in Q3, Down 31% Year-over-year NAHB Eye on Housing 55+ Housing Market Has Strong Third Quarter feedproxy.google.com Housing Supply Crunch Accelerates Metro Home Price Growth during Third Quarter freddiemac.mwnewsroom.com Mortgage Rates Head Up CNBC Why Brexit might have just been completely blown off course Gallup U.S. Gallup Good Jobs Rate Edges Up to 46.4% in October CNBC Jobless claims rise to near three-month high CNBC US productivity jumps to fastest pace in two years, topping estimates CNN Inside Wells Fargo, workers say the mood is grim Bloomberg BOE Drops Rate-Cut Signal as Inflation, Growth Forecasts Raised Market Watch Wells Fargo says upper end of range of possible litigation losses was $1.7 billion at end-September

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