Mortgage rates started stronger out of the gate, but morning weakness in bond markets prompted many lenders to adjust rates higher by early afternoon. On balance, the average lender ended the day just a hair better than yesterday's latest levels. To be clear, we're talking about microscopic differences. Note rates are the same as yesterday. The most prevalent conventional 30yr fixed quote is 4.25%, followed closely by 4.125%. The microscopic improvement refers to changes in upfront costs/credits. In the bigger picture, rates remain very close to the highest levels in more than 2 years. November proved to be one of the worst months in mortgage rate history, based on the abruptness of the move higher. The damage was primarily due to investors rapidly reassessing future growth and inflation potential

December 13, 2016 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.05%   6.13% 7.26% 15 Yr. Fixed 5.81% -0.04%   5.6% 6.59% 30 Yr. Jumbo 6.30% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 13, 2016 Mortgage Rates Steady-to-Lower Ahead of Fed Day Tue, Dec 13, 2016 4:10PM Mortgage rates started stronger out of the gate, but morning weakness in bond markets prompted many lenders to adjust rates higher by early afternoon. On balance, the average lender ended the day just a hair better than yesterday's latest levels. To be clear, we're talking about microscopic differences. Note rates are the same as yesterday. The most prevalent conventional 30yr fixed quote is 4.25%, followed closely by 4.125%. The microscopic improvement refers to changes in upfront costs/credits. In the bigger picture, rates remain very close to the highest levels in more than 2 years. Novembe... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.05 0.00 15 Yr. Fixed 5.81% -0.04 0.00 30 Yr. FHA 6.01% -0.04 0.00 30 Yr. Jumbo 6.30% 0.00 0.00 7/6 SOFR ARM 5.89% -0.06 0.00 30 Yr. VA 6.03% -0.04 0.00 Updates Daily - Last Update: 10/31 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.50 -0.06   95.05 100.11 UMBS 30YR 5.5 101.01 -0.04   97.47 101.40 10 YR Treasury 4.094 +0.018   3.932 4.780 MBS Live Recap: Strong Auction Offers Little Reprieve For Bonds Tue, Dec 13, 2016 4:53PM There are two ways to approach today's bond market movements, and they're quintessential examples of the "glass half empty/full" expression. Glass Half Full: bonds rallied following the 30yr bond auction.  10yr yields remain under the mos... (read more) MBS Price Change UMBS 4.5 97.47 -0.10 UMBS 5.0 99.51 -0.06 UMBS 5.5 101.02 -0.04 GNMA 4.5 97.59 -0.06 GNMA 5.0 99.65 -0.08 GNMA 5.5 100.79 -0.03 Pricing as of: 11/3 8:42AM EST US Treasury Yield Change 2 YR Treasury 3.586 +0.012 5 YR Treasury 3.700 +0.017 7 YR Treasury 3.888 +0.014 10 YR Treasury 4.093 +0.018 30 YR Treasury 4.672 +0.019 Pricing as of: 11/3 8:42AM EST Other News MBA Notes Downturn in New Home Loan Amount Tue, Dec 13, 2016 10:12AM The Mortgage Bankers Association (MBA) reports that applications for new home purchase mortgages were down 3 percent in November compared to October. Based on results of its Builder Applications Survey conducted with mortgage subsidiaries of new home builders, they project an increase of 12 percent compared to November 2015. The change does not include any a... (read more) Delinquencies Up in Some Oil Patch States Tue, Dec 13, 2016 10:10AM Foreclosures in October 2016 were down by a quarter compared to the previous October and the foreclosure inventory shrank by nearly one third. CoreLogic said today that there were 30,000 completed foreclosures during the month compared to 40,000 one year earlier, a 24.9 percent reduction. CoreLogic has revised its report on September foreclosures from the pr... (read more) New Appraisal Tool Frees Lenders From Reps and Warranties Tue, Dec 13, 2016 10:05AM Fannie Mae said new updates to its Collateral Underwriter® (CU) and Desktop Underwriter® (DU) should increase the speed and efficiency of lending and give lenders freedom from representations and warranties on property values for many loans. The changes are part of Fannie Mae's Day 1 Certainty TM initiative. With a qualifying risk score from CU and a... (read more) Ally's Consumer Direct Rollout; Jumbo News; Lender and Loan Amoung Changes Tue, Dec 13, 2016 9:24AM What is this, Europe? 20 weeks off for new parents at American Express? While we're on employment trends, I'm not sure if this will come as a surprise to anyone but according to a Census Bureau report the number of IT workers has increased tenfold since 1970. Median annual earnings of IT occupation workers were $80,665 in 2014, or almost twice as much as the... (read more) Latest Video CNBC survey: 82% says Trump won't reappoint Yellen Futures Now: Bonds ahead of the Fed Import prices down 0.3% in November Around the Web Calculated Risk Blog Las Vegas: On Pace for Record Visitor Traffic and Convention Attendance in 2016 freddiemac.mwnewsroom.com Freddie Mac Statement on Duty to Serve Final Rule Fannie Mae Statement on Federal Housing Finance Agency (FHFA) Duty ... CNBC How rising mortgage rates may not matter for housing Calculated Risk Blog Mortgage Equity Withdrawal Positive in Q3 CNBC U.S. households now owe over $16K in credit card debt NAHB Eye on Housing Popularity of Building Information Modeling Increases among NAHB Members Redfin Redfin's Seven Housing Predictions for 2017 CoreLogic CoreLogic Reports 30,000 Completed Foreclosures in October 2016 FHFA FHFA Issues Final Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets Calculated Risk Blog Duy: December FOMC Preview NAR - Realtor.com Here's Do It Yourself on Steroids Market Watch Yellen to tell the markets to cool your jets'

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