Mortgage rates moved lower today following back-to-back afternoons of improvements in underlying bond markets. Yesterday afternoon was only slightly stronger. It didn't result in many lenders offering mid-day improvements in rate sheets. Today, however, multiple lenders put out positive reprices after a well-received Treasury auction indicated strong investor demand in the bond market (higher demand for bonds = lower rates). The average lender is back to their best levels since December 14th . Whereas 4.375% had easily been the most prevalent conventional 30yr fixed quote for top tier scenarios, 4.25% is at least as common today. All that having been said, rates were already fairly close to that tipping point. The range has been calm and narrow over the past 2 weeks. Today's move stands out

December 28, 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 28, 2016 Mortgage Rates Lowest in 2 Weeks After Treasury Auction Wed, Dec 28, 2016 3:50PM Mortgage rates moved lower today following back-to-back afternoons of improvements in underlying bond markets. Yesterday afternoon was only slightly stronger. It didn't result in many lenders offering mid-day improvements in rate sheets. Today, however, multiple lenders put out positive reprices after a well-received Treasury auction indicated strong investor demand in the bond market (higher demand for bonds = lower rates). The average lender is back to their best levels since December 14th . Whereas 4.375% had easily been the most prevalent conventional 30yr fixed quote for top tier scenario... (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 99.51 -0.06   95.05 100.11 UMBS 30YR 5.5 101.02 -0.04   97.47 101.40 10 YR Treasury 4.092 +0.017   3.932 4.780 MBS Live Day Ahead: Year-End Grind Continues; Pending Sales and 5yr Auction Wed, Dec 28, 2016 8:40AM NOTE: This paragraph will be at the top of the Day Ahead for a few weeks.  Once you've read it, feel free to skip it.  The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerations.  I'll still be doing that, but in posts on MBS Live and under the 'General Commentary' heading (whic... (read more) MBS Live Recap: Slowest Full Day of The Year Tue, Dec 27, 2016 3:39PM As far as full business days go (those that aren't "early close"), today was by far and away the slowest day of the year for bond markets.  In fact, it may be the slowest day of the year, period, by the time the final volume tallies are in. ... (read more) MBS Price Change UMBS 4.5 97.47 -0.09 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 8:44AM EST US Treasury Yield Change 2 YR Treasury 3.585 +0.011 5 YR Treasury 3.699 +0.016 7 YR Treasury 3.886 +0.013 10 YR Treasury 4.092 +0.017 30 YR Treasury 4.671 +0.017 Pricing as of: 11/3 8:44AM EST Other News Pending Home Sales Reflect "Dispirited" Buyers Wed, Dec 28, 2016 10:46AM Pending sales, which were widely expected to make a good showing in November, pulled back sharply instead. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts for existing home purchases, declined 2.5 percent to 107.3 in November from 110.0 in October. NAR said "the brisk up... (read more) Reviving Private Label MBS: How and Why? Wed, Dec 28, 2016 10:36AM In an earlier article we summarized the first part of a report by Urban Institute's Housing Finance Policy Center, Senior Fellow Jim Parrott about the failure of private label securitization (PLS) to recover after the housing crisis. He cites the lack of certainty in the system on the part of investors and a standardized structure that would ally the lack of... (read more) Lender/Realtor Connections Ramping Up; Quicken in The News; Young Folks Following Affordability Wed, Dec 28, 2016 10:31AM "I like to party. And by 'party' I mean take a nap." Lots of folks are taking naps this week, but those on the production side of residential lending are talking, off the record, of being worried about huge drops in pipelines, lower applications (no MBA survey this week - it is closed), and layoffs in the first quarter. Others view the 1st ... (read more) Latest Video And the world's worst celebrity neighbor is... House flipping returns in force Cashin: Thin markets and light trading Around the Web Gallup U.S. Investor Optimism Ends 2016 at Nine-Year High Bloomberg QuickTake: Understanding Full Employment - Bloomberg freddiemac.mwnewsroom.com Over 80 Percent of Largest U.S. Housing Markets Improving CNBC Pending homes sales fall 2.5 percent in November as Trump bump misses housing NAHB Eye on Housing What Building 1,000 Homes Means to the U.S. Economy Redfin Homebuyers Will Look for Cheaper Homes if Mortgage Rates Reach 5 Percent, Redfin Agents Report Market Watch Aging population faces challenges in aging homes CNBC US Treasurys edge higher as bond investors eyes data, auctions Calculated Risk Blog Zillow Forecast on Case-Shiller Index: "Expect a (Very) Modest Slowdown" in November Calculated Risk Blog What will happen with house prices in 2017? wellsfargo.com Wells Fargo LIFT programs create 2,000 homeowners in 2016 Calculated Risk Blog Real Prices and Price-to-Rent Ratio in October Bloomberg Trump Win Could Usher in Boom for U.S. Housing, Says Shiller

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